SSE Airtricity is to increase its gas and electricity prices. The supplier is increasing the unit rate of its electricity by 12.75% and the unit rate of its gas by 10.50% from 2 April.
The move will impact around 250,000 electricity customers and 85,000 gas customers.
The increase will add around €171 a year to the average household's electricity bill and €114 a year to average gas bill.
The increase comes on the back of rising wholesale energy prices in recent months, which remain highly volatile.
In January the wholesale price of electricity in Ireland reached its highest level in over two years while wholesale gas prices increased significantly over the winter too.
The supplier has also cited increased network transmission charges or 'grid fees' as a reason for the hike.
Households looking to offset the price increase are being advised that the quickest and easiest way to save money on their energy bills is to compare prices and switch to a cheaper supplier.
|
Daragh Cassidy of Bonkers.ie said "This is obviously unwelcome news for households.
"However in recent weeks wholesale gas and electricity prices have increased significantly again. And last autumn, the CRU also sanctioned a big increase in network charges or ‘grid fees’ for the upkeep of the electricity and gas networks. And some of that increase is now being passed on to consumers as was always feared.
"The only small reprieve is that this hike is coming at the end of winter when energy bills typically become less of a burden for households
"Before today, SSE had the lowest standard rates in the market as it was one of the few suppliers to reduce prices three times over the past two years. So even after this hike, its prices will remain relatively competitive.
"The questions now is whether other suppliers will follow suit.
"Despite today’s news, there is still good competition among energy suppliers in Ireland for new customers and many are offering big discounts for a year to those who switch.
“I can’t over emphasise how quick and easy it is to switch and it can all be done online in the space of a few minutes. You don’t even have to contact your existing supplier to let them know you’re leaving.
“I’d also encourage anyone concerned about high energy costs to check out any Government supports that they may be entitled to such as the winter fuel allowance, the free electricity allowance or the additional needs payment. Some suppliers have also set up hardship funds which will provide financial support to those most in need, so I’d encourage people to chat to their suppliers too."
