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Mark O'Brien

Electric Ireland confirm huge increase in gas and electricity prices

Electric Ireland Electricity Ireland Pat Fenlon

Electric Ireland has announced a whopping increase to its gas and electricity prices which are set to kick in as winter begins.

Residential electricity bills will rise by 26.7% while residential gas bills will go up by 37.5% from October 1. The move comes just a day after PrepayPower announced a €750 hike in gas and electricity prices.

Electric Ireland blamed the price hikes on unprecedented increases in international energy market prices and the subsequent impact on wholesale gas prices. Executive Director of Electric Ireland, Pat Fenlon, said wholesale gas prices have increased by more than 700% over the last year - going up by 200% since June 2022 alone.

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