Electric Ireland announces its third round of price hikes in five months

Electric Ireland has announced another price hike for electricity and gas customers for the third time in five months.

The energy supplier will raise the standard pricing for gas and electricity, resulting in a 26.7 percent and 37.5 percent rise in monthly bills.

The new prices will go into effect on October 1st. The largest energy supplier in the State is Electric Ireland, and the change will affect 150,000 gas users as well as around 1.1 million electricity consumers.

Electric Ireland recently raised rates in August, when it hiked the cost of gas by more than 30% and the cost of electricity by more than 10%.

In May, it had already increased the price of gas and electricity by over 25%.

In 2021, prices were also raised twice.

The increases will add around €446 a year to the average customer’s electricity bill and €516 to their gas bill.

When all price hikes are included, annual energy and gas costs for homes will rise by almost €1,000 and €1,100, respectively.

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