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Bord Gais Energy will increase its residential gas and electricity prices by 9.3% and 10% respectively from October 9th, citing global conflicts and rising network charges as the causes. The increases will add significant costs to household bills, despite the company offering the lowest gas standing charge in the market.
Bord Gais Energy residential customers will see price rises from next month. A typical gas customer's bill will go up by 9.3%, and electricity prices will rise by 10%.
The changes take effect from October 9th. The increase will add around €177 to the average household's annual electricity bill and €140 a year to the average gas bill. Catherine Lonergan, Director of Customer and Commercial at Bord Gáis Energy, states, 'We recognise that this announcement will be unwelcome for customers and increasing prices is never a decision taken lightly. Global conflicts resulting in higher wholesale gas costs, together with rising network charges, mean a price increase is now necessary.
This is our first gas price increase in four years, and we continue to offer the lowest gas standing charge in the market.
' Daragh Cassidy from bonkers.ie comments, 'Bord Gáis Energy has around 300,000 gas customers and even more electricity customers, so this news will impact many households throughout the country. And while the hikes that have been announced may not seem exceptionally high, they're coming on top of energy costs which are already at very high levels. Gas prices are already around 90% higher than they were four or five years ago while electricity prices are around 70% higher.
Bord Gais Energy Price Hikes Gas Electricity Residential Customers Global Conflicts Network Charges