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Fifth energy supplier announces price rise which will hit homes on New Year's Day

Energia has said it will increase gas and electricity prices by an average of 5.9% from 01 January 2019.

Energia joins four other Irish energy suppliers in hiking it’s prices for the second time this year. The latest rise from Energia will add €61.88 to the average annual electricity bill and €55.64 to the average annual gas bill for their customers come 01 January 2018.

The supplier already increased prices in August this year with gas prices going up by 12.38% and electricity prices by 7.6%. The combination of the two hikes together means customers will see Energia’s average annual dual fuel bill go up by €296.92 in just five months.

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Like Flogas, Panda Power, Pinergy and SSE Airtricity, Energia has attributed the latest hike to the rising costs of wholesale energy.

I’m a customer of Energia – what can I do?

First thing’s first – if you haven’t switch in the past year odds are you’re already paying too much for your energy and it’s time to switch. There are savings of up to €290 to be had by switching which will help ease the pain of this most recent hike.

Customers who are worried about the cost of their bills going up should also try and implement some energy saving measures around the home to reduce their usage and in turn, reduce their bill size.

“These back-to-back price rises are really concerning and consumers will no doubt be feeling unsettled, especially since higher bills are already emerging as we head into the colder, darker months of the year”

Commenting on the announcement, Eoin Clarke, Managing Director of Switcher.ie, says: “Energia is the fifth energy supplier in just a matter of months to put its prices up for a second time this year, so the question now is not if, but when, the next supplier will follow suit.

“The latest hike from Energia is a bitter blow for customers whose bills already went up by almost €180 in August - so anyone who didn’t switch to a cheaper deal at that stage should do so now before the second increase comes into effect in the new year. At the moment, there are savings of up to €290 to be had by switching from a standard tariff to the cheapest deal on the market.”