Consumers are being hit again as Flogas announces its third price increase so far this year with more hikes likely to come.
Whether it's the threat of blackouts, suppliers exiting the market, or price increases, not a day seems to go by without some more bad news on the energy front.
This time it's from Flogas which is hiking its energy prices for the third time this year.
We take a look at what this means for your pocket.
Price hike
The supplier is increasing the unit price of its electricity by 17% and the unit price of its gas by 23% from 26th October.
However its standing charge won’t increase. However Flogas has already increased its electricity standing charge by between €200 and over €300 a year and its gas standing charge by over €100 in recent months.
The latest increase will add around €340 a year to the average customer's electricity bill and €395 a year to their gas bill.
Flogas last increased its prices in August when it upped the price of its electricity by 9.8% and its gas by 24%. Before that, it also increased its prices in May.
It also increased its prices four times in 2021.
When all price increases since the start of last year are taken together, Flogas customers will be paying over €1,700 more for their gas each year and €1,700 more for their electricity!
Unprecedented times
To say these are unprecedented times for the energy sector is an understatement. For many people, next week’s budget can’t come soon enough. However Government will not be able to shield us totally from the full forces of the energy crisis.
These price increases are undoubtedly huge and will be difficult for customers to digest but Flogas is merely passing on the increased costs it’s facing itself.
Unfortunately more price hikes from Flogas (and other suppliers) can't be ruled out over the coming weeks as gas prices on wholesale markets remain at record levels.
If you're struggling financially, check out any Government supports which are available such as the winter fuel allowance, the free electricity allowance and the exceptional needs payment. Some suppliers have also set up hardship funds which will provide financial support to those most in need so I’d encourage people to chat to their suppliers too.
Switch your energy bills
Despite continuing rising prices, there is still competition among most of the energy suppliers in Ireland for new customers and there are discounts available to those who switch.
Switching supplier is quick and easy, and can all be done online in just a few clicks on bonkers.ie. Use our energy comparison tool to review all the tariffs and deals available from all of Ireland’s energy suppliers and switch online in just a few minutes.
If you’re looking for more information before switching, take a look at the following:
- Have a look at our guides on how to compare energy prices on bonkers.ie, and how to switch gas and electricity supplier.
- We’d also recommend taking a look at seven things to consider when changing supplier.
- Read our guide on frequently asked switching questions.
Don’t forget, you can stay up to date with all of the latest energy news and top-saving tips with our blogs and guides!
Let's hear from you
Are you a Flogas customer? Do you have any questions about the latest price increase? If so, let us know. You can contact us on Facebook, Instagram or Twitter.
