Electric Ireland announced that it is increasing residential electricity prices by 9 per cent and residential gas prices by 7.8 per cent with effect from August 1st, 2021. This is due to increases in wholesale energy costs.
Marguerite Sayers, Executive Director, Electric Ireland commented:
“Electric Ireland is determined to keep prices as low as possible, but we are exposed to the price changes in the wholesale market – the price at which we buy electricity. In March, many suppliers increased prices, but we implemented a price freeze to ensure our customers were protected from the impact of rising costs for as long as possible. We also extended our disconnection moratorium to help customers struggling during the pandemic and are keeping it in place for another two months until the end of August. We had hoped that prices might stabilise but unfortunately, wholesale energy costs have continued to increase and are significantly higher than this time last year.“
Electric Ireland will increase the average residential electricity bill by 9 per cent from August 1st, 2021. This equates to €98.46 per annum or €8.20 per month (inclusive of VAT) and is based on the typical residential electricity customer with an electricity usage of 4,200 kWh per annum, as defined by the Commission for Regulation of Utilities (CRU).
Electric Ireland will increase the average residential gas bill by 7.8 per cent from August 1st, 2021. This equates to €59.76 per annum or €4.98 per month (inclusive of VAT) and is based on the typical residential gas customer with a gas usage of 11,000 kWh per annum, as defined by the Commission for Regulation of Utilities (CRU).