Ireland: 7 Energy companies are raising prices from today and energy customers will face a significant increase in their bills from this month.

Energy customers are facing significant increases in their bills from this month, with seven providers upping their prices.

The companies have repeatedly cited the growing challenges facing the sector due to the war in Ukraine, but they have received little sympathy as households and businesses face mounting bills in the teeth of a cost-of-living crisis.

It comes just weeks after Pinergy increased the cost of its electricity by 24pc for pre-pay meter users and 19.2pc for billed customers at the start of this month.

SSE Airtricity 

From today, SSE Airtricity will increase its gas and electricity rates by 39 percent and higher, respectively. The cost of energy for SSE Airtricity's 250,000 customers would increase by roughly €600 over the course of a year due to the most recent price increases.

Prior to this rise, SSE Airtricity raised its costs in May by over 30% for its electricity and by over 39% for its gas. It also tripled its pricing increases from the previous year.

SSE customers will spend more than €1,000 more for gas and €1,100 more for electricity each year when all these pricing hikes are combined.

The price hikes come on the back of SSE Airtricity Ireland paying a €115m dividend to its UK parent company last year.

Electric Ireland

Electric Ireland, a state-owned company, will increase home gas and electricity prices by 37.5 percent and 26.7 percent, respectively, starting today.

The most recent increase in electricity costs will increase annual household expenses by €446. The most recent hike will result in a €516 annual increase in gas prices.

Since the beginning of last year, the supplier has raised prices five times.

Since the enactment of the five price increases, gas prices have increased by €1,100 annually.

Around 1.2 million people use electricity from Electric Ireland, and 145,000 people use gas.

Operating profits rose 10% to €679 million for its parent company, ESB, last year. It increased its payout to the State by more than 50% to €126 million.

Prepay Power 

PrepayPower customers will experience double-digit price increases for gas and electricity.

From today, gas prices will increase by 29 percent and electricity costs will increase by 19 percent.

With this most recent increase, the yearly cost of electricity for its consumers will increase by €340, and the annual cost of gas for customers will increase by €428.

The new increase will increase the average yearly cost of electricity for the supplier's customers by €700 when it is put into effect. It implies that a PrepayPower customer's annual electricity costs will be close to €2,000. Gas prices will increase by €900 over the course of a full year.

PrepayPower has raised its prices three times so far this year. Prices were increased twice last year.

PrepayPower sells electricity and gas to retail customers on a prepaid basis.

The company has 170,000 electricity customers and 60,000 gas customers.

Community Power 

Customers of Community Power will start seeing a 38 percent hike on their rates today. According to annual estimates, this will result in a hike of €60.46 each month. Increased generation capacity at Community Power's community-owned solar farms has reportedly been "thwarted over the last year by unforeseen delays," the company claimed.

Bord Gais Power

Some of the largest rises in this sector are being pushed through by Bord Gáis Energy.

From tomorrow, power costs will increase by 34%. This will raise the typical yearly electricity cost by €579 per year. The price of gas is rising by 39%, adding €525 to yearly household fuel costs. There won't be a rise in standing fees.

This is the second time this year that Bord Gáis has raised the cost of gas and electricity.

When all price hikes are considered, homeowners will likely spend more than €1,300 more for electricity and more than €1,100 more for gas.

Energia

From next Friday, the company will increase the price of its electricity, gas, and dual fuel to homeowners by double-digit percentages.

This increase in electricity prices by 29 percent will add €511 to the annual expense for the average home. The cost of consuming gas will increase by €520 over the course of a year due to a 39 percent price increase.

The annual cost of heating and lighting would increase by €1,030 for dual-fuel consumers due to a 33 percent increase.

For consumers with smart tariffs, there won't be an increase in night rates, and there won't be one in the standing charge either.

This is the second price increase from Energia this year. It increased three times the prior year.

The company, one of the top four suppliers in the industry, serves about 220,000 households.

Households will have to pay more than €1,200 more for electricity and more than €1,000 more for gas over the course of a year when all five hikes are considered.

Fuel Gas Flogas

The most recent company to announce increases is Flogas Energy. As of October 26th, gas prices will increase by 23 percent and electricity costs will increase by 17 percent.

This time, there is no increase in the standing charge. For electricity, Flogas has some of the highest standing fees, which can reach €600 year. The provider serves almost 25,000 clients.

According to Daragh Cassidy of price comparison website Bonkers.ie, this is the company's third price increase this year, and it will increase electricity bills by about €340 and gas bills by about €395 annually.

When all price rises since the beginning of the previous year are taken into account, he claimed that people's gas and electricity bills will increase by more than €1,700 annually.