Energia has announced that it will join SSE Airtricity, Electric Ireland and Flogas in increasing both its gas and electricity prices. The new prices will come into effect from the 1st of August.
Following price increase announcements from SSE Airtricity, Electric Ireland and Flogas over the last few weeks, Energia has this afternoon revealed that it too will increase prices.
We’re getting serious deja vu here at bonkers.ie, as this is the second time Energia has come 4th in line in a rake of price hike announcements, after SSE Airtricity, Bord Gáis Energy and Electric Ireland similarly started the first price hiking trend back in December.
Energia's price hike
Energia’s latest rate increase is substantial and will affect all of its customers, including electricity-only, gas-only, as well as dual fuel customers.
Electricity customers will see their bills increase by 7.6% or an average of an extra €83 per year.
Gas customers can expect an increase of 12.38% or an average of an extra €97 per year.
Finally, if you get both your gas and electricity from Energia, you can expect an increase of 9.6% or an average of an extra €180 to your bill per year.
The hike will take effect on August 1st.
The supplier, like all the other suppliers taking part in the trend so far, has cited rising wholesale gas prices and increased network costs as the reason for the hike.
Four increases in four weeks, when will it end?
SSE Airtricity will increase its electricity prices by 6.4%, its gas prices by 12.3% and its dual fuel prices by 8.9%.
Electric Ireland will increase electricity prices by 6.2% and gas prices by 8%.
Finally, Flogas will increase its gas prices by 12.8%.
SSE Airtricity’s increases will come into effect on July the 14th whereas all of the others will come into effect from the 1st of August.
How to beat the hikes
The recent flurry of price hikes means that thousands of Ireland's energy customers are set to be hit with bigger bills once the summer months come to an end and we start seeing colder weather and shorter days come rolling back around.
The fact that the PSO levy is set to decrease by 45% will help to offset the new prices somewhat but the most foolproof method of beating the price hikes is still to switch suppliers.
Customers with average consumption can still save over €300 by switching gas and electricity suppliers today. The process takes just a couple minutes can be completed entirely online.
You can compare all energy price plans and switch suppliers by visiting our Compare Gas & Electricity Price Plans page now.