Typical dual-fuel household bill will rise by €317 over a full year
Bord Gáis Energy is set to become the seventh energy provider to increase its prices.
The second largest energy supplier in the market is pushing up the cost of electricity and gas and its standing charges for its 715,000 customers from the 9th of next month.
The increase in the electricity unit rate and standing charge will see a typical residential electricity customer’s bill increasing by 8.8pc. This works out at an additional €177 over a year.
For a typical residential gas customer, there will be a rise of 9.3pc, which works out at an extra €140 over a year.
A typical dual-fuel household bill will increase by 9.1pc, or €317 over a full year.
The new 24-hour electricity unit rate, including VAT, will be 45.38c per kilowatt-hour (kWh). The new standing charge will be €262, including VAT for urban and 24-hour customers.
From October 9, the gas unit rate, including VAT, will be 12.36c per kWh. The new standing charge will be €140.
Catherine Lonergan, director of customer and commercial at Bord Gáis Energy, said: “We recognise that this announcement will be unwelcome for customers and increasing prices is never a decision taken lightly.”
She said 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.”
Wholesale gas prices have surged.
European wholesale natural gas prices have hit their highest level in three years as markets assessed the potential impact of escalating military activity involving the United States and Iran on liquefied natural gas supplies through the Middle East.
The front-month Dutch TTF contract reached €79 per megawatt-hour, its highest level since 2023.
Natural gas is used to generate around 40pc of Ireland’s electricity in 2025 and is the single largest source of power generation.
Residential gas customers will see their unit rate increase by 10.6pc and standing charge increase by 7pc.
Residential electricity customers will see their unit rate increase by 9.1pc and standing charge increase by 7.2pc.
Bord Gáis Energy is the biggest supplier of gas in the market with around 300,000 residential customers.
Daragh Cassidy of price comparison site Bonkers said called on the Government to reduce the rate of VAT on energy bills further and to consider pausing another hike in the carbon tax.
“Unfortunately, there are no easy solutions to high energy prices in the short to medium term. While the ultimate goal is obviously to drastically reduce our reliance on fossil fuels and natural gas, this will take well over a decade, maybe two or three,” he said.
Last week SSE Airtricity became the sixth provider to increase prices – electricity by 8.9pc and gas by 9.3pc from October 5.
The move will affect around 250,000 electricity customers and 85,000 gas customers. Bills for dual-fuel customers will rise by 9.1pc. In addition, customers will be hit with increased electricity standing charges.
Pinergy last month announced an increase in electricity prices, Flogas flagged electricity and gas prices in June, while Yuno Energy and Electric Ireland announced increases in May.
Price rises for Electric Ireland’s 1.3 million customers took effect from last month.
From next month, householders are facing a €41 rise in network charges on their electricity bills after a decision by the regulator.