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.

Body Found At Wheatfield Prison Sparks Garda Investigation
Families Could Face €1,000 Rise In Annual Food Bills Amid Farming Crisis
Over Half of Cigarette Packs Surveyed In Newbridge And Naas Had No Irish Duty Paid
Celbridge Brewery CEO Warns Of Mounting Costs Facing Craft Beer Sector
Amhrán na Laoch Songwriting Competition Confirmed for Irish Music Month 2026
Government Announces Major Overhaul of Anti-Money Laundering Rules
Maynooth University Hosts Special Solar Eclipse Event This Evening
Johnstown Mother Says Today's Solar Eclipse Means Something Extra Special For Her And Her Son