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Energy giveaways wiped out as October price hikes expected to add €600 to household bills

Four suppliers raised prices today, and three more will before the end of the month.

Energy suppliers keep raising prices, straining households. Stock photo:

The €600 in energy credits announced by the government may be eaten up by annual charges, which start today. Seven providers are raising prices this month, with four starting today.

As families turn on their heat for the winter, their bills will soar. Some families’ electricity bills will rise by €600 this year.

Energy giveaways wiped out as October price hikes expected to add €600 to household bills

In the past 18 months, average annual electricity and gas bills have doubled to over €2,000.

This adds €1,200 to a household’s annual electricity bill.

The government’s plan to pay €600 in energy credits will only cover half of the higher electricity costs. The first €200 credit is expected before Christmas, but prices will soar in October.1.2 million Electric Ireland customers will see unit rates rise by 38% today.

SSE Airtricity, PrepayPower, and Community Power are raising prices today.

SSE Airtricity customers’ annual electricity costs will rise by €600. Bord Gáis Energy’s electricity unit rates will increase by 46% tomorrow, adding €579 to customers’ annual bills.

Energia will implement its fifth price hike since January, with unit electricity rates rising by 34% after the PSO levy cut.

Flogas Energy is raising electricity and gas prices this month. Last month, Pinergy raised prices.

Higher prices coincide with colder nights and follow months of big increases.

Daragh Cassidy of price comparison site Bonkers. ie said October is when many people turn on the heating.

This year it coincides with price hikes. These increases add to already-record energy prices. In many cases, energy bills will double in the coming weeks, he said.

Mr. Cassidy warned of future price hikes.

Although wholesale gas prices have fallen in recent weeks, they are still much higher than they were a year ago. He predicted blackouts, supplier departures, and price hikes in the coming months.

Leo Varadkar said 200,000 pay-as-you-go customers must be protected from disconnection. He told Solidarity TD Mick Barry he’d talk to the Environment and Social Protection Ministers about protecting customers.

Mr. Barry mentioned a woman whose gas and electricity are cut off if she runs out of credit. Winter disconnections are banned. Mr. Barry asked if pay-as-you-go customers were affected.

Mr. Varadkar said “everyone” should be covered.

However, he admitted that “it’s difficult to know how to apply that to pay-as-you-go customers.”

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