Flogas Natural Gas to apply 1.45% gas price rise from May 1st
Flogas Natural Gas has announced that it is putting up its gas prices by 1.45% or €13.26 on average per yea
This latest price increase will apply to all unit rates and standing charges, affecting over 31,500 existing domestic gas customers from May 1st.
Flogas residential gas customers will incur an additional cost in the region of €13.26 on average per year on their household energy bills.
Although the rate of the increase is relatively small in comparison with other price increases in recent times, this latest increase comes only 6 months after the last price increase introduced by Flogas Natural Gas.
On the 7th October 2013, the gas supplier increased their gas prices by 1.95%, a move which increased the cost of its customers gas bills by €17.84 on average per year.
This decision to increase the the price of its gas supply to customers, follows Bord Gáis Energy’s move to apply a 1.47% gas price increase which comes into effect from the 14th of April.
A spokesperson for Flogas stated that the reason for this latest price increase is “due to an adverse movement in exchange rates coupled with an increase in the unit cost of transporting gas through the pipeline network.”
It remains to be seen if the other major gas suppliers follow suit and announce a similar price increase in the coming weeks.
Commenting on the announcement of this latest price increase from Flogas Natural Gas, Eoin Clarke, Head of Switcher.ie, said: “The increase has not come as a surprise. In recent year Flogas Natural Gas increases have followed Bord Gáis Energy price rise announcements.
“Deregulation of the domestic gas market could take place this June. Bord Gáis Energy will be allowed to set their own gas prices for the first time. Recent competition in the electricity market is putting downward pressure on prices. We hope to see similar activity in the gas market in the coming months.”