Electric Ireland to raise electricity and gas prices by over 20% from start of May

Image: Shutterstock/Lisa-S Image: Shutterstock/Lisa-S ELECTRIC IRELAND HAS announced that both gas and electricity prices are set to rise by over 20% starting in May.

Residential electricity prices are set to rise by 23.4%, which would equate to an additional €297.58 per year on to the average cost of electricityGas prices are also set to rise, with an increase of 24.8% being announced by Electric Ireland this morning. This equates to an additional €220.25 per year to the average cost of gas from the provider.

“Unfortunately, the unprecedented and sustained volatility of wholesale gas prices over the last 12 months means that we now need to increase our prices. Sayers added that international gas prices were beyond the control of Electric Ireland and that they have a “huge impact” on their costs.

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What are their projected profits this year? It was over €600m last year.

The future is poorer with the Green Party in government

chappers198 😑still less of an increase than Bord Gais?

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