Irish households could see electricity bills costing hundreds of euros more compared to current prices come winter as the knock-on effect of Russia’s latest move is felt.
Putin opted to cut supplies to some European countries as the war in Ukraine continues, and so, a new surge is being seen in wholesale gas prices.
According to a report in the Irish Independent, these wholesale gas prices are now around six times higher than they were this time in 2021.
READ MORE: Customers urged to take important step to save money before Electric Ireland hike up prices in May
Bonkers.ie say that households have so far experienced a jump in the average annual electricity bill from €1,100 at the beginning of last year to €1,900 now - with more on the way.
The expected annual gas bill for each homeowner has also risen to around €1,400, and home-heating costs have almost doubled to around €1,250 per 1,000 litres.
In the midst of rising costs across many areas of living in Ireland, Electric Ireland has urged its customers to do one thing in order to save some money as further price hikes come into effect this month.
On Saturday, April 30, customers have been asked to take a picture of their metre and make a note of the reading.
Customers can then contact Electric Ireland to make sure they have the most accurate and up-to-date reading to prevent any additional costs.
If customers don’t do this, the next time their meter is read, the electricity used during the April period can be charged at the new increased price.
The increases coming in this month will equate to €24.80 a month on residential electricity bills and €18.35 a month on residential gas bills.
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