Electric Ireland has announced its fifth price hike since the start of 2021.
One million customers will be hit with increased bills on October 1st.
FIFTH price hike from Electric Ireland since the beginning of 2021.
EI’s parent group - ESB - recorded €680m profit in 2021.
— Richard Chambers (@newschambers) September 1, 2022
The average electricity bills will go up by 26.7 percent, while the gas tariff will increase by 37.5 percent.
It had announced an 11 percent rise for electricity and 31 percent for gas in June of this year, while it also had an increase announced in May.
This latest rise will add around 450 euro to the average annual electric bill, and over 500 for the gas bills.
The Government says it is looking at a windfall tax on energy company's profits - however there's believed to be opposition from Fine Gael who believe it may deter investment.
While, the European Commission says it is looking at interventions as energy prices around Europe sky-rocket.
