It will add €25 euro a month to the average electricity bill.
Electric Ireland's the latest energy provider to announce a hike in its gas and electricity prices.
From May 1st electricity bills will rise by 23.4%, while gas prices will increase by 24.8%.
The company says sustained changes in the wholesale cost of energy continues to drive price adjustments.
The rise in costs will add almost €25 a month onto the average electricity bill and just over €18 on to the average gas bill.
A €2 million hardship fund will remain open to customers experiencing difficulties paying bills, according to the firm.

Tóibín: “ Extreme” Views Highlighted In Secret WhatsApp Groups Will Not Be Tolerated, As He Points To Diversity In Aontú
Gardaí Investigate Alleged Attack In Kildare Town
“And My Daughter Won’t Like Brown People”: Aontú Fires Kildare Youth Leader Over Racist Messages
Michael D. Higgins Congratulates Catherine Connolly Following Decisive Kildare Vote
With Kildare Boxes Opened And Postal Votes Being Counted, Connolly’s Path To Áras An Uachtaráin Seems Certain
One Ban, All Banned: EU To Enforce Bloc-Wide Driving Disqualifications
Kildare Tenant Awarded €23,000 After Landlords Refused HAP Scheme
Asylum Seekers Still Allowed Enter Ireland Without Passports Or Documents, Officials Tell Kildare TD