Gas and electricity provider Energia is to increase its prices by up to 15 per cent in the coming month.
The company said the increases are a result of a "sustained period of elevated global energy market prices."
Customers will see an increase in both electricity and gas, with an increase of €4.75 per week for the average electricity customer and €3.35 for the average gas customer.
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The increase in costs will take effect from April 25.
Energia's Director Republic of Ireland Customer Solutions, Andy Meagher, said: "The wholesale cost of gas and electricity has risen substantially over recent months.
"We are very conscious that these global issues impact our customers locally, and we remain committed to delivering the very best value and service."
He said the company has done its best to absorb the increases in wholesale and commodity costs but added that the price changes are unavoidable.
Mr Meagher said: "Overall, we have limited, where possible, the full cost increase to customers, and we will continue to review the market and to work with our customers to help them manage bills where required."
The news comes after Bord Gais Energy announced this month that it would be ending its winter price pledge, saying that wholesale costs had risen too far.
The announcement saw 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.
"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 managing their bills , 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."
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