Bord Gais Energy has become the latest provider of gas and electricity to announce a substantial price hike.
The company has announced an increase of 39% on residential gas bills and 34% on electricity bills. This represents an average rise of €48.25 per month on electricity bills and €43.80 per month on gas bills.
The company said the increased charges have been introduced in response to record increases in wholesale energy costs. Bord Gais Managing Director, Dave Kirwan, said the company "deeply regrets" the price hike.
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He said: “There is no precedent for the current energy crisis and consumers and businesses across the globe are grappling with very challenging increases in the cost of living. We deeply regret having to raise our prices but the scale of increases in wholesale energy costs leaves us with no choice.
"We continue to do everything we can to reduce the impact on our customers and keep our rates as competitive as possible. We are also pledging 10% of our operating profits to our Energy Support Fund to help customers of ours who simply can’t afford to pay for energy this winter.
"We are working with a number of organisations to help customers access this fund, which has already supported many eligible customers facing difficulty. We know that there are customers who are struggling and our urgent message to them is to engage with us so that we can give them supports that reflect their unique circumstances.”
The company has already introduced a range of measures including to help those struggling to pay skyrocketing bills, including:
- Enhanced payment options/flexibility for its customers to help them manage their bills/arrears in a tailored, individual way that best suits them.
- Increased resources and investment in greater training of customer care agents to ensure they are available and can offer support and advice to customers.
- Enhanced communication and advice to customers on energy efficiency tips and supports available to help them to manage their bills.
Bord Gais Energy becomes the third company this week to announce major price increases. Yesterday, Electric Ireland confirmed increases 26.7% on residential electricity bills and a 37.5% raise on gas bills while earlier this week, Prepay Power confirmed a €750 hike in gas and electricity prices.
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