Flogas announces massive energy price hike

Flogas has become the latest energy supplier in Ireland to increase its prices in 2022.

It's increasing the standard price of its electricity by 27% and the standard price of its gas by 29%. 

It also announced that its electricity standing charge will increase by 27% while its gas standing charge will go up by 29% too.

The price hike will come into effect from May 7th.

Flogas increased its prices four times last year. Its last increase came into effect in November 2021.

Here’s what the latest price increase from Flogas will add to the average customer’s annual bill.

Cost to the customer

The latest price hike from Flogas will add around €521 to the average customer’s annual electricity bill and approximately €409 to the average annual gas bill.

This is a rather staggering combined increase of €930 annually for customers who have both their gas and electricity with Flogas.

Citing volatile prices in the European energy market, with little improvement expected in the medium term, Paul Kenny, General Manager at Flogas Energy had this to say:

All Irish energy suppliers are being faced with the same rising wholesale cost increases. While we have worked hard to minimise and delay price changes during the winter months, we now regrettably need to reflect the increased costs in our prices. 

We are contacting our customers to advise of the change and give advice and support on how to reduce their costs into the future.

Cost over 12 months

The most recent price increase from Flogas means it has now raised its prices five times in just one year, and in doing so has become the eighth energy supplier to announce a price increase in 2022.

Here’s a look at what all of its price hikes over the past year have added to customers’ bills.

For an in-depth look at the energy increases over the last year, take a look at our blog on why energy prices are increasing.

Switch and save

If you want to make sure you’re not overpaying on your energy bills, make sure to switch your supplier once your contract has expired.

For those customers who have been with their existing supplier for more than a year, chances are you’re likely out of contract. This means that you are vastly overpaying by being on the company’s standard rate and you’re not receiving any discount.

Comparing and switching is quick and easy on bonkers.ie and the average customer could save over €700 a year on their bills by changing supplier today.

Compare prices and switch today using our comparison tools here! We compare all energy suppliers in the market against your current supplier to find you the best deals.

Did you know that you can also compare prices for broadband, insurance and banking products on bonkers.ie? Head over to comparison pages to discover what other bills you could save on today. 

Let’s hear from you

What do you think of the latest price increase from Flogas? Were you expecting it?

We’d love to hear from you in the comments below. Alternatively, you can get in touch with us on Facebook, Twitter and Instagram.