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26th Aug 2022

SSE Airtricity announces major increase in prices for customers

Alan Loughnane

Electricity price increase

The supplier already increased its prices in May and also did so three times in 2021.

SSE Airtricity has announced it will hike its standard household gas and electricity prices by 35.4% and 39% from 1 October this year.

The move will impact around 250,000 electricity customers and 85,000 gas customers.

The increase will add almost €600 a year to the average customer’s electricity bill and over €500 a year to their gas bill.

SSE last increased its prices in May when it hiked the unit price of its gas by 39% and its electricity by over 30%.

It also increased its prices three times in 2021.

SSE customers will be paying over €1,000 more for their gas and €1,100 more for their electricity each year when all of these price hikes are added together.

SSE Airtricity managing director Klair Neenan said: “We know this news will be disappointing for our customers. It was hoped market volatility would ease, but the global energy crisis continues to impact gas and electricity costs for all energy suppliers.

“However, we are acutely aware of the impact this has for households and are working hard to help where we can.

“This includes our €25 million support fund offsetting today’s announced price change for our existing financially vulnerable customers for the winter period.

“It also includes €1 million donation to a national charity partner that provides invaluable assistance to households, regardless of their energy supplier.”

Commenting on the news, Daragh Cassidy, Head of Communications at bonkers.ie, says:

“To say these are unprecedented times is an understatement. Price increases of this frequency and this magnitude are clearly unsustainable. And more price hikes from other suppliers later in the year, including SSE, are almost a certainty.

“Since the start of last year, some suppliers have announced even bigger price hikes that have added over €2,500 to households’ annual gas and electricity bills. It’s astronomical.”

“The Government needs to decide now how it plans to help households over the coming months. Is the temporary reduction in VAT being kept? Is another energy credit going to be paid? Is the Government going to place a windfall tax on energy companies – and if so, how would this even work when many are headquartered overseas?”