Electricity Prices Rise for 400,000 Customers in Ireland

Electricity prices are set to increase for nearly 400,000 residential customers in Ireland as two major suppliers, Bord Gáis Energy and Pinergy, confirm significant hikes. Starting in October, Bord Gáis will increase standard unit rates by 13.5 percent and standing charges by 12 percent, effective from October 12. As a result, approximately 369,000 customers will see their monthly bills rise by an average of €18.16, translating to an additional €218 annually.

Bord Gáis attributes these price increases to “continued increases in network charges, the higher cost of doing business, and the impact of wholesale energy market pricing.” Despite the electricity price adjustments, the company confirmed that gas prices will remain unchanged for the time being.

Pinergy, impacting around 28,000 customers, will implement a 9.83 percent increase starting on October 13. This adjustment will add approximately €199 to the average annual bill. The company cited rising external costs, including electricity system operator and network charges, along with ongoing volatility in wholesale energy costs, as the reasons for this increase.

Other energy suppliers have also announced their own price increases this year. Energia, Flogas, and SSE Airtricity have recently confirmed similar hikes, further contributing to the rising cost of energy for consumers.

In contrast, Electric Ireland has announced it will not raise electricity prices during the winter months. Additionally, the company revealed a decrease in gas prices by 4 percent, providing some relief for consumers during the colder season.

As the energy landscape continues to evolve, many customers are now faced with higher bills just as winter approaches. The situation underscores the ongoing challenges in the energy market, driven by fluctuating costs and regulatory changes.