The changes come into effect in April.
Bord Gais is increasing the average gas bill by 39 per cent and electricity bill by 27 per cent.
The changes come into effect on April 15th.
In a statement the company says the move is in response to high global wholesale costs and market volatility, which is expected to continue.
It's also put in place additional supports for customers who will have difficulties managing their bills.
Minister Eamon Ryan has said the changes to Bord Gais energy prices will cost customers in the region of 300 euro a year.
Eamon Ryan is in Washington DC for a number of meetings and will speak with the US Energy Secretary this afternoon.
He's admitted the Government's interventions in the fuel market won't match price increases:
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