Electric Ireland to raise electricity bills by almost 30% in latest price rise

electricity pylon
Electricity bills will go up by 29%. Credit: ITV

Electric Ireland has announced plans to increase residential electricity bills by 29% in Northern Ireland from October 1.

The increase means the average residential electricity bill will increase by around £5.29 a week

Electric Ireland is the third largest supplier of electricity in Northern Ireland.

This is the second increase by the company this year and will see the typical credit meter and keypad (PAYG) customers’ bills rise by almost £275 per year.

Electric Ireland said the increases were due to "ongoing uncertainty in the international energy markets and sustained and unprecedented increases in wholesale energy prices".

Pat Fenlon, executive director of Electric Ireland, said: "This continues to be a very challenging time for customers and an unprecedented time in the energy industry, with increases to wholesale gas prices in excess of 700% over the last 12 months and 200% since June 2022 alone.

He said: 'It is with considerable reluctance that we are increasing electricity and gas prices again for our customers, which is necessary given the continuing increases in wholesale energy prices, particularly gas.

"We realise these price increases will be difficult for many customers to absorb and we are committed to helping our customers during these difficult times.

"We encourage any customer having difficulty in paying bills to engage with us and we will work with them to agree a manageable payment plan.<

SSE Airtricity announced similar increases last week, with the average electricity bill rising by 35.4% and gas by 39%.

Raymond Gormley, Head of Energy Policy at the Consumer Council, said: “This news will adversely impact all Electric Ireland customers who are already experiencing financial pressures on their household budget especially with the severe cost of living crisis that we are experiencing. “Consumers who are struggling with their energy bills should contact their supplier directly for help and information.

We would encourage all consumers to think about ways they can reduce their energy costs.

"Switching payment option, changing billing method or switching supplier can save some money.”