Irish PrepayPower customers have been dealt a major blow today after the company confirmed a price hike coming in a matter of weeks.
The energy provider confirmed that electricity prices will jump by nearly 10% from July alongside a gas price increase of 20%.
The changes will affect around 170,000 customers’ electricity bills and around 60,000 gas bills nationwide, as the cost of living continues to reach new heights.
The company defended its decision to make these unwelcome changes amid the ongoing increase in energy prices across national and international markets.
Therefore, from July 1, customers will pay on average around €3.05 more a week for electricity and up to €4.65 for gas.
Speaking about the cost hikes, a spokesperson said: "These increases are a result of rising energy costs internationally.
"Our hedging strategy has enabled us to avoid some of the larger increases that others have had to pass through but clearly any increase is regrettable."
The news comes on the back of a number of other companies that have announced price changes to cope with the rising cost of energy.
Across the months of April and May, Electric Ireland, SSE Airtricity and Bord Gáis Energy all saw their prices trend upwards affecting hundreds of thousands of households across Ireland.
Meanwhile, on Tuesday, an Taoiseach Micheál Martin issued a warning to all Irish energy consumers in light of a "new era" of high prices that are as a result of Russia's invasion of Ukraine.
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