Bord Gáis Energy and Pinergy have both revealed upcoming electricity price hikes for residential customers, set to begin next month, reports RTE.
Bord Gáis is implementing a 13.5% rise in standard unit rates and a 12% increase in standing charges, effective from 12 October.
This change will lead to an average increase of €18.16 per month—or €218 per year—for Bord Gáis Energy electricity customers, reports RTE.
Pinergy has also confirmed a pricing update that will result in household electricity costs rising by 9.83% from 13 October, equating to €199 annually for a typical domestic user.
Pinergy’s standing charge will remain unchanged.
Bord Gáis Energy stated that the increase was driven by sustained rises in network expenses, wholesale energy market pressures, and elevated operating costs. This marks their first price increase in three years, reports RTE.
The company currently provides electricity to 369,000 households.
It noted that prices for its 270,000 gas customers will stay the same.
Catherine Lonergan, Director of Customer and Commercial at Bord Gáis Energy, emphasised that this was the first hike in three years, during which time the company had twice cut electricity and gas prices, reports RTE.
“We also absorbed network charges in 2024 saving households an average of €100 in electricity and €75 in gas,” she said, reports RTE.
“Due to continued increases in network charges, the higher cost of doing business and the impact of wholesale energy market pricing, we’re regrettably announcing a price increase for electricity customers,” she said, reports RTE.
“However, I can confirm that there is no change to gas prices for our 270,000 gas customers and that our gas standing charge remains the lowest in the market,” reports RTE.
She added that Bord Gáis Energy remains committed to strong competition in the Irish market and will pass on savings when feasible.
Pinergy CEO Enda Gunnell said this marks their “first increase after three price decreases that we made over 2023 and into 2024”.
Mr Gunnell pointed out that the company had absorbed network charge increases approved by the Commission for Regulation of Utilities last year, reports RTE.
“The planned investment in the electricity grid and infrastructure is urgently required but we would call on the exchequer to also play its role in ensuring much needed price stability and minimising the financial burden on consumers,” he said, reports RTE.
Earlier this week, Electric Ireland announced a 4% reduction in gas prices for 140,000 customers starting in November, and confirmed there would be no electricity price increases for its 1.1 million users this winter.
Energia recently declared that it will raise electricity prices by up to 12.1% from 9 October, adding over €200 to many annual bills, reports RTE.
Last month, Flogas increased its rates by an average of 7%.
Responding to the fresh round of price increases, Sinn Féin leader Mary Lou McDonald said: “Here we go again!”
“Another big energy bill hike on the way while Fianna Fáil and Fine Gael prepare to withdraw energy credits from households in the Budget,” she said, reports RTE.
“It’s a terrible decision. This rip-off must be brought to an end. Workers and families must be supported in the Budget,” reports RTE.
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