Flogas Energy announces third price hike of the year

Starting from October 26, Flogas Energy electricity bills will go up 17% and gas bills will go up 23%.

Flogas Energy is the latest to increase its gas and electricity prices —  the company's third price hike this year.

Starting from October 26, electricity bills will go up 17% and gas bills will go up 23%.

However, its daily standing charges for electricity and gas supply will not be affected.

The latest increase will add around €340 a year to the average customer's electricity bill and €395 a year to their gas bill.

Back in August, Flogas upped the price of its electricity by 9.8% and its gas by 24%. Before that, it also increased its prices in May. It also increased its prices four times in 2021.

Flogas Energy said the hike “is due to the continuing and unprecedented increases in wholesale gas prices and the associated increases in wholesale electricity costs.” 

General Manager of Flogas Energy Sean O’Loughlin said: “Energy cost increases are affecting all suppliers and while we are continually looking at ways to minimise costs for our customers, we have no option but to increase our rates in the current environment.

“We will support affected customers through our customer service team as much as possible and have a range of options, including payment plans, Budget Pay and pre-payment meters.

“We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us.”

Deluding ourselves

Commenting on the news, Daragh Cassidy, Head of Communications at price comparison site bonkers.ie said: “To say these are unprecedented times for the energy sector is an understatement. 

"Next week’s budget can’t come soon enough. However we’re deluding ourselves if we think the Government can shield us from the full forces of the energy crisis," he said.

“I’d encourage households which may be struggling financially to check out any Government supports which are available such as the winter fuel allowance, the free electricity allowance and the exceptional needs payment. 

"Some suppliers have also set up hardship funds which will provide financial support to those most in need so I’d encourage people to chat to their suppliers too.”

Flogas is the seventh energy supplier to announce price increases from October.

Others include Bord Gáis, Energia, SSE Airtricity, Electric Ireland, Community Power and PrePayPower.

From October 1, SSE Airtricity's electricity prices will go up by 45.2%, while the unit price of gas will go up by 46.3%.

Its electricity standing charge for both gas and electricity is also going up by 8% in a move that will impact around 250,000 electricity customers and 85,000 gas customers.

From the same date, Prepay Power electricity customers will face a 19% rise and gas customers a 29% rise. 

This will also be the third time that Prepay Power has increased its prices this year. 

Electric Ireland has also announced a 26.7% hike in electricity bills and a 37.5% increase in gas bills, also starting from October 1.

This will add €37.30 per month to the average electricity bill and €42.99 per month to the average gas bill.

The Government is under pressure to deliver measures in the budget to help hard-pressed consumers, with some experts predicting more than half of households will be in energy poverty this winter.