Electric Ireland’s increases in electricity and gas prices from the beginning of next month, citing effects from the war in Ukraine has been acknowledged by the company as ‘unwelcome‘.
Residential electricity prices are set to rise by 10.9%, which will equate to an additional €13.71 per bill onto the average cost of electricity.
Gas prices from the provider are also set to rise by 29.2%, equating to an additional €25.96 extra on an average bill.
The provider previously increased prices in May and in a statement today said that the “unwelcome news” was due to the “ongoing disruption in the geopolitical landscape”.
The company’s interim executive director Suzanne Ward 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.”
Reaction to the news has been one of frustration and unhappiness while in political circles Sinn Féin’s David Cullinane used the news and the general trends in the cost of living crisis to further attack government inaction as he perceived it on twitter:
”Inflation will hit nearly 10%. Electric Ireland just announced it will increase residential gas bills by 29.2% and residential electricity bills by 10.9% from next month. Back to school costs looming. And yet no emergency budget. An abdication of responsibility from Government.”
