Electric Ireland will increase residential electricity prices by 9.3% and gas prices by 7%, with effect from November 1st, 2021.
That Irish utility company stated the price hikes are in response to “unprecedented” increases in wholesale energy costs.
The increases equate to €9.02/month on the average residential electricity bill and €4.85/month on the average residential gas bill.
In a statement today (Friday, October 1st, 2021), Marguerite Sayers, executive director, Electric Ireland, said:
“In Electric Ireland, we do our very best to keep our prices as low as possible for our customers. Unfortunately, this price increase is necessary to offset the unprecedented rise in wholesale energy costs this year.”
“While we know any increase is unwelcome, Electric Ireland remains fully committed to providing the best value to our customers.
“We offer one of the lowest standard unit rates in the market for electricity and gas. There is an enduring discount rate of up to 8.5%, which reduces those unit rates further.”
Sayers said the company appreciates that energy price increases, combined with other bills, may put some households under financial pressure.
“We would urge any customer who has difficulty paying their bills to engage directly with us or with The Society of St. Vincent de Paul or MABS with whom we work in such circumstances.”
Alternative options available to all Electric Ireland customers are flexible payment plans.
The Equaliser Plan involves spreading energy costs across the year by paying a similar amount monthly or taking a payment holiday.
“As always, our customer support teams will be available to assist anyone with questions or concerns arising from these increases,” Sayers concluded.
Last year, Electric Ireland announced the launch of a new solar energy offering for the farming sector.
Soaring fertiliser costs
Meanwhile, Minister McConalogue and Teagasc are planning a fertiliser alternative strategy.
They will construct a roadmap to maintain farm output, whilst reducing chemical fertiliser use.
Furthermore, the report will look at the short, medium and long-term options of farmers reducing chemical fertiliser usage.
The move comes in response to a spike in fertiliser prices, at home and internationally in recent weeks due, primarily, to increases energy costs.