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Bord Gais to raise prices by 2.2pc

Friday, January 31 14:57:47

Following the end of Bord Gais Energy's winter price freeze, from 1st March Bord Gais Energy's residential electricity prices will increase by 2.2pc.

It said that the price increase will add 51 cent per week to an average residential electricity bill.

Bord Gais said that the increase is driven by factors outside the company's control, including a weakened euro and volatility in international wholesale energy costs, which Bord Gais Energy has absorbed over a sustained period.

Despite increases implemented by all other suppliers in November 2013, January and February of this year, Bord Gais Energy took the decision to absorb the increased costs until March 2014 as part of its winter electricity price freeze commitment to customers. Even after this increase, Bord Gais Energy continues to offer the lowest standard electricity prices in Ireland - for the third year in a row - and, to date, over 150,000 customers now enjoy the benefits of its Rewards Club.

"Bord Gais Energy regrets that any price increase is necessary but the factors driving this increase are outside our control. We continue to work hard to keep bills as low as possible, offering new and existing customers value for money and helping them to manage their energy costs, especially throughout the winter period. That is why we were the last supplier in the market to increase residential electricity prices," said Dave Kirwan, Managing Director, Bord Gais Energy.

"We are committed to working with customers to help them to pay for their energy in a way which suits them best. We offer Pay as You Go Meters and payment options which allow customers to spread their energy payments over the course of the year and avoid large unexpected bills," he added.