Energia the fifth supplier to raise its prices for the second time this year

It’s been a wild year for energy price increases, for a number of reasons, and it seems the floodgates are now well and truly open.

As it stands eight energy suppliers have increased their prices since the beginning of 2021 with a handful now having raised their prices for a second time, and you can now add Energia to that list.

The renewable energy supplier has announced yet another price increase for its customers having already implemented a gas and electricity price increase on April 5th.

Here are the details in full!

Second price increase

Energia has become the latest energy supplier to increase its prices, and the fifth supplier to increase its prices for a second time in 2021. 

The supplier is increasing the price of its electricity by 9.7% and the price of its gas by 9.7%.

The price increases will come into effect from 8th July and will impact around 160,000 electricity customers and 60,000 gas customers. 

For the average electricity customer the increase equates to an extra €2.41 per week on their electricity bill, €1.71 per week on a gas bill, or €4.12 per week for dual fuel customers.

This means the average electricity customer will be paying €125 extra a year while gas customers will be paying €89 extra a year.

However when April's increase is taken into account it means customers will now be paying well over €200 a year more for their electricity and almost €150 a year extra for their gas.

A spate of recent increases

Today’s news had been expected given the raft of price increases that have been announced so far this year.

Eight suppliers in total have increased their energy prices since the start of the year and in recent weeks Pinergy, Flogas, Panda Power and Iberdrola all raised their prices for the second time this year.    

According to Eurostat, electricity prices in Ireland are already 23% above the EU average and the fourth most expensive in the 27-nation EU, and more expensive than the UK, Norway and Iceland too. 

Gas prices are the seventh most expensive.

Meanwhile, with prices still on the rise and more suppliers yet to step out, an increase from at least one of the leading energy suppliers, Electric Ireland and/or Bord Gáis Energy, is also expected in the coming days and weeks.

See below our table for all the price increases that have happened so far this year.

First round of increases:

Second price increase from suppliers:

Switch and save!

Remember that there are always steps you can take to offset any increase in your bills.

• You can switch and save suppliers using our price comparison tool, where you can compare deals across all 13 energy suppliers. You can learn more about these energy suppliers here.
• You can still switch even if you’re still in contract with your current supplier. You will be subject to an early exit fee of €50 per fuel, however, in many cases customers will still save more in the long run.
• Alternatively, you can change your habits around the home to reduce energy consumption. Take a look at our recent blog post on 15 ways to reduce electricity and save money.

Run a quick comparison using our energy comparison tool for gas, electricity, or dual fuel to see what savings you could make by switching today!

Looking for more tips before making an energy switching decision? Have a look at our guide on 7 things to consider when switching energy supplier.

What do you think?

What do you make of the latest energy price increases? Is it justified or an unnecessary charge on consumers? Let us know your thoughts in the comments below.

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