It is the second electricity price rise it has announced this year.
Bord Gáis Energy is set to increase its electricity and gas prices by roughly 12% each from August.
The price change will increase a typical gas bill by €8.36 per month and an electricity bill by €11.39 per month and will take effect from 8 August 2021.
In percentage terms, this represents a 14% increase in gas unit rate and standing charge, which equates to 12.7% on the average bill, and a 12.5% increase in electricity unit rate and standing charge, which equates to 11.6% on the average bill.
It is the second electricity price rise it has announced this year and will add roughly €137 to the average annual electricity bill, and €100 to the average annual gas bill.
In April, Bord Gáis imposed an 8% rise in electricity costs, adding €80 to the average annual bill for customers.
The combination of the two rises will add more than €200 to annual bills as the company is citing a rise in wholesale energy prices as a reason for the increases.
A string of energy suppliers have now said they intend to raise their prices, with a number pushing through two increases this year alone.
Managing director of Bord Gáis Energy, Dave Kirwan, said on Wednesday that it was the company’s first gas price raise in over two years as the company reduced gas prices in October 2019.
“There have been sustained wholesale market increases over the past six months and, unfortunately, we now have to reflect these higher costs in our gas and electricity prices,” he said.
“We have sought to mitigate this impact and have not taken this decision lightly but the wholesale pressures are a market challenge outside of our control.”
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