From the middle of next month, FLOGAS Energy is supposed to hit its customers with another price increase.
The energy company said it will increase average household electricity bills by 8.1 percent from August 19.
This increases the annual electricity costs for a typical household by around €163.
Gas bills have risen 19.8 percent since the same date.
The typical household gas bill increases by €363 over a year.
It is the second Flogas price increase this year.
From August, Flogas customers will pay up to 2,600 euros a year for their electricity.
Its gas customers face typical annual bills of €2,460.
Flogas blamed the continued and unprecedented increases in wholesale gas prices and the associated increases in wholesale electricity costs.
The company announced four price increases last year, most recently in November with double-digit price increases for electricity and gas.
That fifth rise means this provider’s electricity and gas prices are up nearly 70 percent this year as the energy crisis deepens.
Flogas said the conflict in Eastern Europe is creating significant uncertainty about the reliability of gas flows and adding to existing price pressures in European energy markets.
Wholesale prices are forecast to continue rising into the winter months and remain volatile in the medium term with no sign of improvement.
Paul Kenny, General Manager of Flogas, said: “As energy customers we are very aware of the impact of rising costs on Irish households.
“Increases in energy costs affect all suppliers and while we continually look for ways to keep our costs down, we have no choice but to increase our tariffs in the current environment.”
Mr Kenny said the company will support impacted customers as much as possible through its customer service teams and will have a range of support offerings including payment plans, budget pay options and prepayment meters.
“We encourage any of our customers who are experiencing financial pressure with their energy bills to contact us,” said Mr. Kenny.
Next month more than a million households with Electric Ireland accounts will be hit by a fourth rise in electricity and gas prices in a year.
ESB’s own energy supplier pushed up electricity prices by 11 percent and gas prices by 29 percent in August.
It is Electric Ireland’s second price increase this year and fourth since last year.
The latest move will increase electricity costs by €164 per year for its 1.1 million customers.
The state-owned company’s electricity prices will have risen 67 percent cumulatively since the year the last hike went into effect.
https://www.independent.ie/business/personal-finance/flogas-announces-sixth-price-rise-for-households-in-past-year-41850667.html Flogas announces sixth price increase for households in the past year