Energy provider Flogas will raise its variable electricity prices by approximately 7%, starting from 25 August, reports RTE.
The company noted that this is its first price hike in three years, following a 15% decrease in its electricity charges just last year.
Flogas confirmed that the price rise will not affect residential natural gas customers, reports RTE.
For an average Flogas household electricity customer, the adjustment will result in an extra €10.51 per month, or about €126 annually, on their electricity bills.
At present, Flogas has 43,500 residential electricity customers who are on variable rate plans, reports RTE.
It clarified that residential electricity users on fixed-rate plans will not be impacted by this change.
Flogas Energy Managing Director Sean O’Loughlin acknowledged the difficulty of price changes for customers, but said this increase is driven by a 21% rise in network charges that took effect in October 2024, with more expected in October 2025, reports RTE.
“We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Plan and pre-payment meters,” he said, reports RTE.
“We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us,” he added, reports RTE.
Darragh Cassidy from price comparison site bonkers.ie described Flogas as a “smaller player” in the market, with around 50,000 customers.
However, he warned that other energy providers are also likely to increase their prices in the coming weeks or months, reports RTE.
He pointed out that the timing of this rise is concerning, as the Government has indicated that no additional energy credits are expected this winter.
Consequently, it seems likely that some energy users “will struggle over the coming months,” he added, reports RTE.
Tell us your thoughts in the Facebook post and share this with your friends.
