Electricity prices

From May 1st, electricity bills will rise by 23.4 per cent, while gas prices will increase by 24.8 per cent.

“To say these are unprecedented times for the energy sector is an understatement. “Despite the rising prices, there is still good competition among energy suppliers in Ireland for new customers right now and many are offering big discounts for a year to those who switch. But households will just be faced with astronomical bills next winter. And given Electric Ireland's size, it will be felt badly by many households nationwide. The rise in costs will add almost €25 a month to the average electricity bill and just over €18 on to the average gas bill. Electric Ireland is the latest energy provider to announce a hike in its gas and electricity prices, this will impact around 1.1 million electricity customers and 145,000 gas customers.

Electric Ireland has announced a hike in energy bills, with the average electricity bill set to rise by almost €300 a year and the average gas bill to rise ...

Ms Sayers said that international gas prices are beyond their control and have a huge impact on costs. The 23.4% rise in electricity prices and 24.8% rise in gas prices will take effect from May 1, 2022, the company said. Electric Ireland has announced a hike in energy bills, with the average electricity bill set to rise by almost €300 a year and the average gas bill to rise by €220 a year.

Electric Ireland has announced plans to significantly increase residential electricity prices by 23.4% and gas prices by 24.8% with effect from May 1, 2022.

“Electric Ireland had the lowest cumulative price rises in the past 12 months. Marguerite Sayers, executive director, Electric Ireland said the company is acutely aware that the rising cost of living is causing difficulty for households but explained that the “unprecedented and sustained volatility of wholesale gas prices over the last 12 months” means they have to increase their prices. The increase will equate to €24.80/month on the average residential electricity bill and €18.35/month on the average residential gas bill, based on the estimated annual bill as defined by the Commission for Regulation of Utilities (CRU).

From May 1st, residential electricity prices will jump by 23.4% and gas prices will increase by 24.8%. The increase will add around €24.80 a month to an average ...

Electricity Prices From May 1st, residential electricity prices will jump by 23.4% and gas prices will increase by 24.8%. Electric Ireland announces price hike in electricity and gas

Staff at the state-owned ESB continue to get massive discounts on their electricity bills, despite its energy supply subsidiary announcing double-digit ...

Bord Gáis Energy in the last two weeks said it was increasing electricity prices by 27pc and gas by 39pc. Chairman of the Consumers’ Association of Ireland Michael Kilcoyne said he could see a reason for increasing electricity and gas unit rates, but there was no justification to hike the standing charges for households. The CRU has no role in regulation unit rates or standing charges imposed on Asked for a justification for the standing charge rise, Electric Ireland said it is a fixed daily charge included in all electricity and gas price plans. He said electricity and gas were essential services and called for a change in the rules to allow the Commission for the Regulation of Utilities (CRU) to be able to approve or turn down standing charge rises. Gas unit prices are going up by 25pc, with the standing charge going up by the same percentage.

The Government is looking at the possibility of using "time of day pricing" for electricity in an effort to address spiraling energy costs.

He said there is a 90-day supply of fuel in the country and people should "absolutely not" panic buy, but he warned that this might be a longer-term problem than people anticipate. Mr Ryan also said he expects the first SEAI "One-Stop-Shop" for energy upgrades to be officially launched and ready to do business next week. Speaking later at the Energy Show at the RDS in Dublin, Minister Ryan said there has been almost a three-fold increase in applications from the public for the grants and energy efficiency programmes operated by the Sustainable Energy Authority of Ireland. He said the Government would have to "do a whole lot more", but measures would have to be targeted at lower income households. Mr Ryan replied that "the cost-of-living crisis is driven by the war", and he said that "profiteering by Mr Putin" has pushed prices up. He asked the Government to "press" the European Commission to allow it to cut VAT on fuels and said excise duty on home heating oil should be reduced from tonight. Minister— RTÉ News (@rtenews) @EamonRyansays the Government has introduced a number of measures to help "cushion the blow" of the rise in fuel and energy costs, but adds "we are going to have to do a whole lot more." The company said the increases would typically add €24.80 per month to the average residential electricity bill and €18.35 per month to the average residential gas bill, based on the estimated annual bill as defined by the Commission for Regulation of Utilities. He said he will ask them to look at that measure, which is being used in the UK and see if it might work in Ireland. He said the Government will look at market mechanisms and further efficiencies and "not just looking at the Government signing every cheque". Minister for the Environment, Climate and Communications Eamon Ryan said time of day pricing could allow people to "save further through the pricing mechanism". The Government is looking at the possibility of using "time of day pricing" for electricity in an effort to address spiraling energy costs.