Customers can soon expect a major spike in gas and electricity bills, Bord Gais Energy has said.
The company said on Tuesday that the average electricity bill will rise by 27 per cent, and the average gas bill by 39 per cent.
The price increase will take effect from April 15th, as a “winter price pledge” comes to an end.
Dave Kirwan, managing director, said he was aware that the announcement was “not welcome news”.
He 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.”
The company cited the high demand for gas across the world, as well as reduced supplies and “geo-political issues” among the reasons for rise in prices.
The war between Ukraine and Russia had fuelled concerns about the impact on already-high energy prices.
The price rise will hit consumers already bearing the brunt of inflation.
