Flogas energy has announced that both gas and electricity prices will rise from late next month.
This morning, the company stated that residential electricity costs will increase by 17% and gas bills will climb by 23%, with the price increases beginning on October 26.
This price increase, the third this year, follows those made by other energy providers including Electric Ireland and SSE Airtricity in the previous month.
In a statement, Flogas Energy said that the price increases were due to “the continuing and unprecedented increases in wholesale gas prices and the associated increases in wholesale electricity costs”.
The company stated that while unit prices are rising, standing costs for gas and electricity will not.
Sean O’Loughlin, the General Manager of Flogas Energy said: “Energy cost increases are affecting all suppliers and while we are continually looking at ways to minimise costs for our customers, we have no option but to increase our rates in the current environment.”
“We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Pay and pre-payment meters. We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us.”
To ensure they are on a reduced contract or, if they have a smart metre, to convert to a Flogas Smart Tariff, the company has urged all of its customers.