More than 1 million customers across the country are set to be hit with hikes to their electric bills next week.
Electric Ireland and PrePayPower will both be increasing their prices this coming Monday, April 1.
Electric Ireland will increase its gas and electricity prices by 4% each while PrePayPower will increase its prices by 3.9%
For Electric Ireland customersthe increase will add around €38 a year (incl. VAT) to the average customer’s electricity bill and €30 a year (incl. VAT) to the average gas bill.
Meanwhile PrePayPower customers will see their annual electricity and gas bills increase by around €50 and €35.
7 out of 10 consumers say they can't pay essential bills from their wages
Daragh Cassidy from bonkers.ie says: "A few weeks ago Electric Ireland and PrePayPower both announced that they'd be increasing their gas and electricity prices having frozen them over the winter months.
"Well unfortunately those changes come into effect on Monday. And although the increases are at the lower end of what we’ve become accustomed to, they still come on the back of large increases last year, meaning customers are paying hundreds more for their energy compared to a few years ago.
“Switching suppliers is the quickest and easiest way to save money. That's because energy suppliers offer whopping discounts of up to 40% to new customers. Right now a customer could save up to €400 a year on average on their energy costs just by comparing and switching suppliers.”
