SSE Airtricity’s announced price hikes from May 1st.
It ‘s residential electricity prices will go up by 24% while the cost of gas will rise by 32.3%.
The company is blaming sustained increases in wholesale energy costs for the rise in prices.
Due to sustained increases in wholesale energy costs, we are increasing our standard household gas and electricity unit prices in the Republic of Ireland from 1 May 2022. For more information, please see https://t.co/jbK1KHhUt0
— SSE Airtricity (@sseairtricity) April 1, 2022
The news comes as the Tánaiste says the Government can’t fully protect people from energy price hikes.
Leo Varadkar has said Russian President Vladimir Putin’s threats to cut supply to EU countries won’t hit Ireland directly but could still push up prices.
He says Government has made big interventions but can’t totally address the surging price of fuel.
“No government can fully compensate people for what is happening internationally whether it’s because of supply chain problems, the pandemic or the war in Ukraine.
“But we will do the best that we can to help people, to soften the blow, to minimise the impact of these bills.
“But we don’t want to get into a position where we are borrowing money with the peoples credit card only to take it back off them at a later date.”
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