Bord Gáis becomes seventh energy provider to hike prices

BORD Gáis Energy has become the seventh energy provider in Ireland to announce price increases to their residential gas and electricity customers.

Electric Ireland, Energia, Flogas, Panda Power, Pinergy, and SSE Airtricity all announced rate increases in the past few weeks.

Gas and electricity customers can expect an increase in their bills of up to 12.8% and 9.38% respectively on August 6, following the announcement by Bord Gáis Energy yesterday.

Bord Gáis, like all the other energy companies, have blamed the price increases on the continued increases in wholesale energy costs.

According to Bord Gáis, the average gas customer can expect to see an increase of 4.7% on their bill, or €36.72 extra a year, while electricity customers will see an increase of 5%, or €60 extra a year.

Managing Director of Bord Gáis Energy Mark Prentice said: ‘Bord Gáis Energy regrets today’s announcement. This was a difficult decision to make, but increases in wholesale energy costs have forced us to raise our prices.’

Mr Prentice added that this is only the second price increase for Bord Gáis customers since 2014, and that the company has worked hard to minimise the increase as much as possible.

Daragh Cassidy, Head of Communications for price comparison site Bonkers.ie, said that although the increases announced by Bord Gáis are not as significant as other companies, it will still impact a large number of people as a result of the company’s position as number one gas supplier in Ireland.

Mr Cassidy added that it was shocking that seven energy suppliers have announced price increases in the space of just a month.

‘Our advice is to look into switching over to a better deal,’ said Mr Cassidy.

Dual electric/gas customers could have saved up to €1,417 over the last four years if they had switched supplier or renegotiated.