Electric Ireland has announced its prices for electricity and gas will increase from May.
The Irish utility company that supplies electricity and gas to business and residential customers has said prices will increase by almost 25 per cent.
Residential electricity prices will rise by 23.4 per cent and gas prices will go up by 24.8 per cent with effect from 1 May 2022.
Electric Ireland said the increase will equate to €24.80 per month on the average residential electricity bill and €18.35 per month on the average residential gas bill, based on the estimated annual bill as defined by the Commission for Regulation of Utilities (CRU).
The Executive Director of Electric Ireland said they were “acutely aware that the rising cost of living is causing difficulty for households across the country”.
However, Marguerite Sayers said the company had “delayed the increase as long as we could” but due to the cost of wholesale gas prices not returning to 2021 figures, they were left with no option.