An average gas bill will increase by nearly 40%.
Bord Gáis Energy customers will see a major increase in their electricity and gas bills from next month.
In a statement on Tuesday (15 March), the company confirmed that its winter price pledge,
a guarantee by Bord Gáis to hold its prices until Spring 2022, is ending.
As such, it is increasing the average electricity bill by 27% and the average gas bill by 39%, with the changes to take effect from 15 April.
Bord Gáis says the price hike comes as high global wholesale energy costs and market volatility are expected to continue for some time.
"The range of factors driving the rising cost of wholesale energy have been extensively discussed in recent times," its statement reads.
"These include the persistence of high demand on gas worldwide, reduced supplies, low storage volumes, geo-political issues and late winter conditions."
Bord Gáis said it recognises that some customers will experience difficulties in managing their bills and that it has put in place additional supports and services to help.
It stated that it is working in partnership with the Money Advice and Budgeting Service (MABS) and other charities to establish an energy support fund and will provide tailored advice to help customers.
“We know that today’s announcement is not welcome news," Managing Director with Bord Gáis Energy Dave Kirwan said.
"As part of Centrica plc, and with decades of local experience, we will navigate through these unprecedented times with our customers.
"However, there have been continued increases in wholesale energy costs over the past two years, particularly in the past 12 months.
"This, together with the expectation that costs will remain both high and volatile for some time, means we are forced to increase our prices.
"We know that each customer’s circumstances are different, and we are determined to help those who need it most.
"That is why we are announcing an energy support fund of €1.25 million in addition to the services we already have in place.”
