'Price gouging': Hundreds of thousands effected as Bord Gáis and Pinergy raise prices
In an industry-wide increase, Energia and Flogas have also surged their electricity prices
Bord Gáis and Pinergy have announced significant electricity price hikes that will effect hundreds of thousands of customers.
The average bill for Bord Gáis Energy electricity customers will increase by an average of €218 per year - or €18.16 per month.
Bord Gáis are increasing their electricity price by 13.5% per unit - which is set to impact 369,000 customers.
The company's standing charges will increase by 12%, beginning on 12 October.
Gas prices from Bord Gáis will remain unchanged.
Catherine Lonergan, Director of Customer and Commercial at Bord Gáis, said: “This is our first price increase in three years, and in that time we had two price reductions across gas and electricity.”
Lonergan stated that the global market's wholesale energy prices are the cause of the price increase.
Pinergy are increasing their rates by 9.8% for the typical household - which will take effect 13 October.
It was announced earlier this week that Energia have increased their electricity prices by 10.9% on average, impacting 292,000 customers.
Flogas announced an increase of 7% in August - affecting over 43,000 customers.
The government has confirmed that energy credits will be cut from the next budget.
Sinn Féin TD Pearse Doherty, said: “in the coming weeks, Fianna Fáil and Fine Gael intend to make matters worse by increasing prices in petrol/diesel, home heating oil, Local Property Tax, student fees and more”.
Social Democrat TD Rory Hearne commented on X that the latest price hikes are an example of “price gouging”.