By Charlie Weston Personal Finance Editor
Thursday July 14 2011
UTILITY companies ESB and Airtricity are set to follow Bord Gais in hiking their charges, energy experts warned.
Yesterday Bord Gais Energy confirmed that its electricity customers would be hit with a 12pc price rise from next month.
As revealed in last Monday's Irish Independent, the move will send average family bills shooting up by €120 a year to €1,120.
The semi-state has more than 435,000 electricity customers and also wants a 28pc rise in gas prices pushing up the average family bill by €200 a year to around €1,000.
Energy expert Simon Moynihan said it was now "inevitable" that the other players in the market would raise their prices.
Mr Moynihan of the comparison website Bonkers.ie said more people would end up in arrears on utility bills due to price hikes. Bord Gais boss Jason Scagell said: "We have done our utmost to limit the overall price increase to 12pc."
Wholesale prices rose 20pc since Bord Gais Energy last cut prices, the company said.
- Charlie Weston Personal Finance Editor