A FIFTH energy supplier is to introduce double-digit price increases.
SE Airtricity will increase electricity and gas prices from the beginning of next month.
Electricity consumption increases by 24 percent, adding an additional €338 to the typical annual household bill.
Gas is up 32.3 percent, adding €333 to the typical annual bill.
The move affects around 250,000 electricity customers and 85,000 gas customers.
According to price comparison site Bonkers.ie, the company has had three price increases in the past year.
Unlike ESB’s Bord Gáis Energy and Electric Ireland, the company is not increasing its base rates.
SSE Airtricity said the price change was due to record highs in wholesale energy costs, which have disrupted energy markets across Europe.
Bills for dual-fuel households will increase by 27.5 percent on average, which equates to around €670 more per year.
Bonkers.ie’s Daragh Cassidy said SSE customers would pay over €1,100 more each year for their gas and electricity if all price increases over the past year were added together.
For those households that only buy electricity from SSE, the additional cost per year is €635 since last year and €540 for gas, Mr Cassidy said.
In response to the cost-of-living crisis, the company also announced a series of customer supports aimed at helping those facing increased financial pressure.
This includes the expansion of the existing customer support fund by a further €1 million to directly support customers in difficulty.
And it will make a €1M charitable donation to a trusted charity partner, which will be used to support people struggling with the cost of living as the global market crisis continues.
Klair Neenan, Managing Director of SSE Airtricity said: “All winter we have been working hard to limit the local impact of the global energy crisis by absorbing record high wholesale energy costs in the hope that the pressure on prices will ease.
“Unfortunately, that was not the case and energy prices continue to show strong volatility and upward pressure. Unfortunately, this must now also be reflected in our prices.”
She said SSE Airtricity has a longstanding and ongoing commitment to working with and supporting customers in need.
Airtricity is Ireland’s largest supplier of 100 per cent green energy, according to SSE.
However, prices in the market are determined by auctions, with high wholesale gas costs increasing costs even when electricity is generated from wind.
Consumer energy prices are not regulated in this country and companies are free to set their own prices.
ESB’s Electric Ireland, which has 1.1 million electricity customers, is driving up electricity and gas prices in May.
This means that average electricity bills will increase by €300 and gas bills by €220 over a year for the average customer.
The increase means that Electric Ireland’s average cost of electricity has increased by €500 over the last 18 months.
Bord Gáis Energy will increase prices by up to 39 percent from April 25. This step will increase the average electricity bill by €385 and the gas bill by €390 over a year.
Energia is increasing its electricity and gas prices by 15% from April 25, which will cost the average electricity customer an additional €247 per year.
PrePayPower raised prices for both fuels from earlier this month.
Electricity prices will increase by 9.9 percent and gas prices by 19.9 percent.
https://www.independent.ie/business/personal-finance/sse-airtricity-becomes-fifth-energy-provider-to-hike-prices-this-year-41510798.html SSE Airtricity is the fifth utility to raise prices this year