Energia has announced a price increase of up to 12.1% for its electricity that will add more than €200 onto the annual bills of many customers.
The energy provider, which has 292,000 customers in the Irish market, said the price rises will take effect from 9 October.
Customers on its standard electricity tariff will see a 10.9% increase to their average annual bill - equating to €205 per year.
While Energia 'Dual Fuel' customers' average yearly bills will rise by 6% (c. €204).
Those on the company's 'Smart Meter Electricity' plan will see the highest percentage jump (12.1%), which will add around €193 onto their annual bill.
Customers on the 'Smart Meter Dual Fuel' plan will pay 6.2% more on average, which equates to €193 per year.
The increases will impact Energia's 221,400 electricity customers, with gas customers unaffected.
The company said it worked to minimise the impact on customers but that the price hikes are unavoidable due to ongoing, substantial increases in electricity-system operator and network charges.
Managing Director of Customer Solutions at Energia Gary Ryan said: "We understand that some customers will experience difficulty and would encourage anyone experiencing such challenges to engage with us so we can continue to provide ongoing support.
"We partner with St Vincent de Paul, MABS, Alone, as well as other charities and urge customers to always contact us to find a solution."
Price increases follow €154m profit last year
Earlier this year the retail arm of Energia announced that in 2024 it recorded pre-tax profits of €154.33m, despite losing 14,600 customers over the 12 months.
This latest price increase from Energia follows a 7% average hike in prices last month from Flogas.
While in April SSE Airtricity increased its rates by an average of 10.5% for electricity customers and 8.4% for gas customers.
Daragh Cassidy from comparison site bonkers.ie said other suppliers are "also likely to increase their prices over the coming weeks.
"Energia has cited increased network charges or "grid fees" as the main reason for the hike.
"Unfortunately the high prices we're now paying for our energy look like the new normal.
"However, there are still good deals available to those who switch with discounts of up to 30% or more available for an entire year.
"So anyone worried about high energy costs should absolutely still look at switching. As we move into the colder autumn and winter months, and with record numbers in arrears, it's never been more important for households to be on the cheapest energy deal possible," Mr Cassidy added.
