Bord Gais Energy has confirmed an end to its winter price pledge, saying that wholesale costs have risen too far and continue to do so.
The announcement will see electricity bills increase by 27 per cent while the average gas bill will go up by a massive 39 per cent.
In a statement, the provider said: "With high global wholesale energy costs and market volatility expected to continue for some time, Bord Gais Energy has today confirmed that its winter price pledge, which protected customers over the colder winter period, is ending.
READ MORE: Irish Rail confirm timetable changes for St Patrick's Day and double Bank Holiday
"Regrettably, the company is increasing the average electricity bill by 27% and the average gas bill by 39%. The changes will take effect from 15 April 2022."
The company said it recognises that some customers will experience difficulties in managing their bills, and so Bord Gais Energy has put in place additional supports and services to help.
It said: "Working in partnership with the Money Advice and Budgeting Service (MABS) and other charities, Bord Gais Energy is establishing an energy support fund and will provide tailored advice to help customers."
Dave Kirwan, Managing Director with Bord Gáis Energy, said the company would do its best to navigate through these unprecedented times with customers.
He said: "We know that today's announcement is not welcome news. As part of Centrica plc, and with decades of local experience, we will navigate through these unprecedented times with our customers. However, there have been continued increases in wholesale energy costs over the past two years, particularly in the past 12 months. This, together with the expectation that costs will remain both high and volatile for some time, means we are forced to increase our prices.
"We know that each customer's circumstances are different, and we are determined to help those who need it most. That is why we are announcing an energy support fund of €1.25 million in addition to the services we already have in place."
The service provider said a number of factors have led to this decision, including "the persistence of high demand on gas worldwide, reduced supplies, low storage volumes, geo-political issues and late winter conditions."
Customers can see their website's tariffs & prices section to see prices effective from 15 April 2022.
