Bord Gais Energy customers to pay extra 50 euro a month after price hike

Bord Gais Energy customers will see an increase in their bills of almost 50 euro a month after it announced a rise in its gas and electric prices.

The move comes less than a day after Electric Ireland announced plans to hike its prices.

Bord Gais Energy said on Friday that the average residential electricity bill would rise by 34% while gas bills will jump by 39% from October 2.

It will add an extra 50 euro to an extra 48.25 euro to electric bills, and an extra 43.80 euro to gas bills.

The energy company said the decision was made with “regret” and comes as it faces “record increases” in wholesale energy costs.

Dave Kirwan, managing director of Bord Gais Energy said: “There is no precedent for the current energy crisis and consumers and businesses across the globe are grappling with very challenging increases in the cost of living.

“We deeply regret having to raise our prices but the scale of increases in wholesale energy costs leaves us with no choice.

“We continue to do everything we can to reduce the impact on our customers and keep our rates as competitive as possible.

“We are also pledging 10% of our operating profits to our Energy Support Fund to help customers of ours who simply can’t afford to pay for energy this winter.

“We are working with a number of organisations to help customers access this fund, which has already supported many eligible customers facing difficulty.

“We know that there are customers who are struggling and our urgent message to them is to engage with us so that we can give them supports that reflect their unique circumstances.”

In March, the energy company announced it was increasing its rates for both electricity and gas customers, with the average electricity bill increasing by 27% and average gas bill by 39%.

Earlier on Friday, Finance Minister Paschal Donohoe said the Government is to consider imposing windfall taxes on energy firms.

Mr Donohoe said it is “unconscionable and wrong” that businesses could be forced to close while energy firms are seeing a surge in profits.

Businesses and householders face massive increases in their energy bills which are expected to continue into next year.

Taoiseach Micheal Martin said the recent price hikes reflect a “broader exponential rise” in energy prices.

He said the government will bring in Budget Day measures to help alleviate pressures on people and businesses.

He also said that the government will launch a “demand reduction approach” in how consumers can be more energy efficient and reduce energy consumption.