Electric Ireland to raise electricity by €300 and gas prices by €220 a year

The increase will equate to €24.80 per month on the average residential electricity bill and €18.35 per month on the average residential gas bill, based on the estimated annual bill as defined by the Commission for Regulation of Utilities.

Electric Ireland has announced a hike in energy bills, with the average electricity bill set to rise by almost €300 a year and the average gas bill to rise by €220 a year.

The 23.4% rise in electricity prices and 24.8% rise in gas prices will take effect from May 1, 2022, the company said.