News Story

Bord Gáis Energy has announced an increase to its prices for both gas and electricity customers from October 9.

The price hikes will result in an increase on a typical residential electricity customer’s bill of 8.8% or 14.75 euro per month, and the typical residential gas customer’s bill of 9.3% or 11.67 euro per month.

A typical dual-fuel household’s bill will also increase, rising by 9.1%, which equates to 26.42 euro per month or 317 euro annually.

Bord Gáis Energy said the changes reflect sustained increases in the cost of supplying energy including higher network charges, continued volatility in wholesale energy markets and broader inflationary pressures.

Catherine Lonergan, director of customer and commercial at Bord Gáis Energy, said: “We recognise that this announcement will be unwelcome for customers and increasing prices is never a decision taken lightly.

“Global conflicts resulting in higher wholesale gas costs, together with rising network charges, mean a price increase is now necessary.

“This is our first gas price increase in four years, and we continue to offer the lowest gas standing charge in the market.”

The Government has ruled out universal energy credits in next month’s Budget.

Minister for Finance Simon Harris argued that the reintroduction of energy credits is a temporary measure that will not help in the long run.

The Tániste said: “I think kind of untargeted, temporary measures, I think that people want us to do a bit better than that.

“I’m not in any way dismissive of the idea that assisting people right now with this Bill is an assistance in that moment of time.

“But then the next Bill comes, and then the next Bill comes, and then the next Bill comes.

“We do need to name that move on energy. There’s no doubt, but I’d rather see a kind of structural move rather than just temporary.”