Electric Ireland Announces Fourth Price Hike In A Year

Friday, 1 July 2022 16:38

By Caoimhe Harney

Gas prices are set to rise by over 29%.

Electric Ireland's increasing residential gas and electricity prices from the 1st of August.

Electricity bills are set to rise by 10.9% and gas bills by 29.2%..

It is the second Electric Ireland price hike this year, and the fourth since last year.

The latest move will add €164 a year to the cost of electricity for its 1.1 million customers.

Gas costs will be €350 a year more expensive after the latest rise.

Electric Ireland gas prices will have gone up by 93% when the new increase is implemented.

The company's blaming the situation in eastern Europe and a reduction in the reliability of gas flows, which's leading to sustained higher energy costs throughout Europe.

Electric Ireland said it has pledged €3m for new a hardship fund to support its customers.

Bonkers DOT-i-e spokesperson Darragh Cassidy says it's the companies second price hike in recent months:

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