Energy supplier announces its sixth price rise

Consumers are being hit again, with Flogas Energy announcing its third price hike this year.

electricity bills have risen by 17% and gas bills by 23% since October 26.

This is Flogas Energy’s sixth price increase since the start of last year, compared to four last year.

There is no permanent charge increase this time. Flogas has some of the highest ongoing charges up to €600 per year for electricity.

The provider has more than 25,000 customers.

The latest price hike will add around €340 a year to electricity bills and around €395 to gas bills, said Daragh Cassidy of price comparison site Bonkers.ie.

“When all the increases since the start of last year are added up, it adds over €1,700 a year to people’s electricity bills and over €1,700 to their gas bills.

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In recent weeks there have been price increases of between 20% and 40% from SSE Airtricity, Electric Ireland, PrePayPower, Energia, Community Power and Bord Gáis Energy during the current wave of price increases.

Since the start of 2021, there have been around 60 separate price increase announcements.

This means that the annual cost of supplying electricity to a typical home has more than doubled to €2,000.

There was a similar increase in gas costs, with heating oil prices also doubling to around €1,280 for 1,000 liters of fuel.

And it was revealed by this publication this week that permanent charges have increased by €300, with some energy providers charging households €700 permanent charges for electricity alone.

Taoiseach Micheal Martin said energy companies have no opportunity to exploit the current energy crisis by increasing ongoing charges for customers.

Flogas Energy said the latest rise was due to continued and unprecedented increases in wholesale gas prices and associated increases in wholesale electricity costs.

Flogas Managing Director Sean O’Loughlin said: “Increases in energy costs are affecting all suppliers and while we are continually looking for ways to minimize costs for our customers, we have no other choice. than increasing our rates in the current environment.

The gas and electricity supplier said it would inform customers affected by the new price increase through its customer service.

He said he has a range of options, including payment plans, budget payments and prepaid meters.

“We ask any Flogas customer who is facing financial pressure around their energy bills to contact us,” Mr O’Loughlin said.

Flogas said it was increasing payment to homeowners and small businesses using solar panels under its SolarGen microgeneration scheme to 24c per kWh.

This is the highest rate available to microgen customers in the market, he said.

Flogas encouraged all customers to ensure they are on a discounted contract and, where they have installed a smart meter, to upgrade to a Flogas smart tariff.

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