Electric Ireland customers are about to face a major price hike from October 1, the company has announced.
Electricity bills will increase by 26.7% and residential gas bills by 37.5% from next month, which equates to €37.20 per month on the average residential electricity bill and €42.99 per month on the average residential gas bill.
The supplier has said that the hike comes as a result of the international energy crisis and an unprecedented time in the energy industry with increases to wholesale gas prices in excess of 700% over the last 12 months and 200% since June 2022 alone.
More than one million households will be affected by the hike.
Pat Fenlon, Executive Director, Electric Ireland acknowledged that it is a challenging time for customers.
“We realise these price increases will be difficult for many customers to absorb and we are committed to helping our customers during these difficult times. We encourage any customer having difficulty in paying bills to engage with us and we will work with them to agree a manageable payment plan. In addition, our €3 million Electric Ireland Hardship Fund is available and will be administered on our behalf by our partners SVP (Society of St Vincent de Paul) and MABS (Money Advice and Budgeting Service).”