Energy supplier announces seventh price increase and has increased electricity and gas bills by an average of €1,700 since last year

Consumers are hit again as Flogas Energy announces its third price hike this year.

Electricity bills are up 17 percent from October 26 and gas bills are up 23 percent.

It is Flogas Energy’s seventh price hike since the beginning of last year, after four hikes last year.

This time there is no basic fee increase. Flogas has some of the highest monthly subscription fees of up to €600 per year for electricity.

The provider has over 25,000 customers.

The latest price increase will increase electricity bills by around €340 a year and gas bills by around €395 a year, said Daragh Cassidy of price comparison site Bonkers.ie.

“If you add up all the increases since the beginning of last year, citizens’ electricity bills will increase by over 1,700 euros a year and gas bills by over 1,700 euros.

Help for next week’s budget can’t come soon enough.”

In recent weeks there have been price increases of between 20 and 40 per cent from SSE Airtricity, Electric Ireland, PrePayPower, Energia, Community Power and Bord Gáis Energy during the current wave of price increases.

There have been around 60 separate price increase announcements since the beginning of 2021.

This has more than doubled the annual cost of powering a typical household to €2,000.

Gas costs have risen similarly, and the price of heating oil has doubled to around 1,280 euros for 1,000 liters of fuel.

And this week’s release revealed that subscription fees have risen by as much as €300, with some utilities charging homes €700 in subscription fees for electricity alone.

Taoiseach Micheal Martin said there was no room for energy companies to take advantage of the current energy crisis by raising the subscription fee for customers.

According to Flogas Energy, the recent increase was due to continued and unprecedented increases in wholesale gas prices and associated increases in wholesale electricity costs.

Sean O’Loughlin, General Manager of Flogas, said: “Increasing energy costs affect all suppliers and while we are constantly looking for ways to minimize costs for our customers, we have no choice but to increase our tariffs in the current environment raise.”

The gas and electricity supplier said it will contact customers affected by the new price hike through its customer service team.

There are a number of options including payment plans, budget payments, and prepayment counters.

“We are asking any Flogas customer who is under financial pressure because of their electricity bill to get in touch with us,” said Mr O’Loughlin.

Flogas said it is increasing the payment to 24 cents per kWh to homeowners and small businesses who use solar panels under its SolarGen Microgeneration program.

This is the highest rate available to Microgen customers on the market, it said.

Flogas urged all customers to ensure they have a discounted contract and switch to a Flogas Smart tariff where they have a smart meter installed.

https://www.independent.ie/business/personal-finance/energy-supplier-announces-seventh-price-rise-adding-average-1700-to-both-electricity-and-gas-bills-since-last-year-42011680.html Energy supplier announces seventh price increase and has increased electricity and gas bills by an average of €1,700 since last year

Fry Electronics Team

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