SSE Airtricity announce huge price rises for its electricity and gas customers
Sse Global Uncertainty” “continued Airtricity The Energy Markets The And The Across Hikes For Volatility Blame On Market Ongoing Pinned
Customers of SSE Airtricity are set to face huge price hikes this winter, as the company announced a hike of 45.2% in its electricity unit rate and a 46.3% in its gas unit rate alongside an 8% increase in its standing charges.
The move is set to impact 250,000 electricity customers and 85,000 gas customers from 1 October. It will see an extra €600 added to the average customer’s electricity bill and €500 to the average gas bill.
Taken together with the previous price increases announced by SSE Airtricity, its customers will be paying €1,000 more for their gas and €1,100 more for their electricity each year, according to analysis from Bonkers.ie.
SSE Airtricity pinned the blame for the hikes on the “continued volatility across global energy markets and ongoing market uncertainty”.
Its managing director Klair Neenan said: “We know this news will be disappointing for our customers. It was hoped market volatility would ease, but the global energy crisis continues to impact gas and electricity costs for all energy suppliers.
“As always, we encourage any customer who is having difficulty with their energy bills to contact us. We will work with them to find a solution together, including flexible payment plans, budget plans, and different payment methods such as pay-as-you-go options.
“While it is difficult to know when wholesale prices will begin to improve, we are committed to reducing our prices as soon as we can.” The company said it has also pledged a fund of up to €25m to provide assistance to around 60,000 customers this winter.
This price promise holds their electricity costs at May 2022 levels until 31 March 2023, it said. SSE Airtricity will contact eligible customers directly through September with the details of the support.
Further price hikes from the energy suppliers had been feared heading into this winter. Electric Ireland’s latest price hikes affecting over one million households took affect at the beginning of this month.
And more may be to come, according to Bonkers.ie’s head of communications Daragh Cassidy.
He said: “Price increases of this frequency and this magnitude are clearly unsustainable. And more price hikes from other suppliers later in the year, including SSE, are almost a certainty.
“Since the start of last year, some suppliers have announced even bigger price hikes that have added over €2,500 to households’ annual gas and electricity bills. It’s astronomical.” Mr Cassidy said the pressure will now switch to the Government on how to support households in the upcoming Budget.
He added: “Is the temporary reduction in VAT being kept? Is another energy credit going to be paid? Is the Government going to place a windfall tax on energy companies - and if so, how would this even work when many are headquartered overseas?”