Iberdrola increases gas and electricity prices

Average monthly gas and electricity bills are set to increase by 15% and 9.5% respectively

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More households in Ireland are set to see an increase in their electricity and gas bills as another supplier, Iberdrola Ireland announced a change in its energy prices.

Starting from 1st January, the new prices are expected to add €12.6 (£10.7) onto the average monthly gas bills and €11.5 (£9.8) onto the monthly electricity bills.

That translates to an increase of 15% and 9.5% in the gas and electricity bills respectively.

The Spanish-owned company follows the practice of other Irish suppliers including Flogas which announced an increase in its natural gas and electricity prices for its domestic customers.

Sean O’Loughlin, Head of Iberdrola Ireland blamed the current conditions in the global energy market for the new price change.

Mr O’Loughlin said: “We fully appreciate that this is not news that our customers will want to hear, but – like other suppliers – we need to respond to the increases we’re seeing in wholesale energy costs.”

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