Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

File photo

Electric Ireland announces electricity and gas price increases

Not good news for the company’s 1.3 million customers, 60,000 of whom also get their gas from Electric Ireland.

ELECTRIC IRELAND CUSTOMERS are facing gas and electricity price rises from the beginning of next month, the company has announced today.

Electricity prices are to increase by 5.9 per cent while gas prices will rise by 8.5 per cent from 1 October in a move that will affect the company’s 1.3 million electricity customers which includes 60,000 who are also gas customers.

This will mean an average price increase of €1.22 per week for the average residential electricity customer, according to the company formerly known as ESB.

In a statement, it blamed the rise in transmission and distribution networks costs and the Public Service Obligation levy which accounts for two-thirds of the overall price increase.

The weak euro and its impact on the price of wholesale energy was to blame for the other third of the increase, the company said.

“We regret that we have to increase our electricity prices at this time.  We are acutely aware of the financial pressures facing our customers and we have done all we can to minimise the increase,” Electric Ireland’s Liam Molloy said.

The announcement comes in the same week that Bord Gáis said that its gas prices are to go up by 8.5 per cent from October for its 400,00 customers.

Read: Bord Gáis gas bills to rise by 8.5pc from October

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
57 Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.
    JournalTv
    News in 60 seconds