SSE Airtricity has announced plans to increase its household energy prices from next month.
Electricity rices will jump by 6.3% (an estimated €61 annual increase) while natural gas prices will increase by 6.9% (€52 annual increase).
The company has blamed what it described as "unprecedented increases in wholesale energy prices", in addition to increases in electricity transmission charges.
David Manning, director of home energy at SSE Airtricity said: “Unfortunately these price increases have been unavoidable due to further and unprecedented rises in wholesale energy costs, as well as increases in electricity transmission costs, which have a direct impact on suppliers.
"We’ve done everything we can to minimise the impact of this market volatility on our customers and we’re committed to passing on any future savings as soon as we can.”
Daragh Cassidy of bonkers.ie said Airtricity is the fourth energy supplier to announce price hikes this autumn.
He said: "Coming on the back of the price hike that was announced during the summer, these increases will add around €250 to the average SSE customer’s annual gas and electricity bill, meaning most of the savings announced.
“Although energy prices are increasing, my advice to customers is to shop around. All energy suppliers save their best rates for brand-new customers, which are heavily discounted compared to the standard rates a longer-term customer would be paying."
