Over million Electric Ireland customers facing another price hike

Electric Ireland has announced plans to increase residential electricity bills by 10.9 per cent and gas bills by 29.2 per cent with effect from 1st August 2022.

The increase equates to €13.71 per month on the average residential electricity bill and €25.96 per month on the average residential gas bill, based on the estimated annual bill as defined by the Commission for Regulation of Utilities (CRU).

Commenting on the announcement, Suzanne Ward, Interim Executive Director, Electric Ireland said: 'We understand this price increase is unwelcome news for our customers. We delayed this increase as long as we could, but unfortunately, the situation in Eastern Europe and a reduction in the reliability of gas flows has resulted in sustained higher energy costs throughout Europe.

"We have seen a very substantial increase in the cost of wholesale gas, which in turn, impacts both our gas and electricity prices.

"We are determined to continue offering the best value we can for customers by providing one of the lowest standard electricity rates in the market. This rate is automatically available to all of our loyal customers – not just new customers. We also have flexible payment plans for those who are struggling to pay their energy bills.

"In addition, based on feedback that last year’s Electric Ireland Hardship Fund made a real difference in customers’ lives, we have pledged €3 million to a new Hardship Fund which will operate from Autumn to help customers experiencing payment difficulties at the coldest time of the year."