Electric Ireland & Bord Gáis to Increase Energy Prices
Electric Ireland and Bord Gáis Energy, Ireland’s largest energy suppliers, have announced they will increase their gas and electricity prices in November, 2021.
According to Electric Ireland, electricity and gas prices will rise on the 1st of November by 9.3% and 7% respectively. This will add €9.02 to the average monthly electricity bill, or around €108 per year. The average gas bill will increase by €4.85 per month, or around €58 per year.
This is the second price increase this year from Electric Ireland, the most recent price increase took place last August when the supplier raised its electricity prices by 9% and its gas prices by 7.8%.
Bord Gáis Energy has also said it will put up its gas and electricity prices from 24 October. Electricity rates will rise by 10.4%, thus adding €10.26 to the average monthly bill, or around €123 to the average annual bill. Gas rates will go up 12%. This will add €8.16 to the average monthly gas bill, or around €100 per year.
This is the third time this year that Bord Gáis has raised its electricity prices. The supplier imposed an 8% increase in April, which added €81 to the average yearly bill and an 11.6% increase in August, which added €137 to the average yearly bill. Annual bills will go up by more than €340 as a result of the combination of these three price hikes.
Why are the top suppliers increasing their prices?
Electric Ireland Executive Director Marguerite Sayers and Bord Gáis Energy Managing Director Dave Kirwan have blamed surging wholesale energy costs for the price increase. “We do our very best to keep our prices as low as possible for our customers. Unfortunately, this price increase is necessary to offset the unprecedented rise in wholesale energy costs this year,” stated Sayers.
In regard to the price hike, Kirwin stated the following: “We regret that we have to pass through a price increase at this time, but we have taken steps to protect our customers against further movement during the colder winter months ahead. Today we confirmed a unique guarantee to hold these prices until Spring 2022.”
How can I avoid the price increase?
The quickest and easiest way for Bord Gáis Energy and Electric Ireland customers to keep their bills from increasing is to switch your energy supplier. For help switching to a better energy offer, give us a call here at Selectra on 1800 816 036 or request a free callback now.