Electricity and gas prices in Ireland are higher as of 1 May, 2022. The price hikes are concurrent with government’s 10-year programme for the gradual increase of the carbon tax. The carbon tax applies to carbon-emitting fuels such as coal, peat, oil, and natural gas.
From 1 June, 2022, the carbon tax will increase to EUR 41 from EUR 33.50 per tonne. The carbon tax will rise to EUR 100 per tonne by 2030. For now, the increase means that it will cost approximately EUR 20 more to fill a tank of home-heating oil and add a further EUR 1.50 per month to gas bills.
Meanwhile, Electric Ireland is increasing its charges by more than 20%. And Residential Electric Ireland is raising its charges by 23.4%, so you can add another EUR 297.58 to the average cost of electricity per year. The provider’s gas prices are expected to rise by 24.8%, which means a further EUR 220.25 added to the average cost of gas per year.
However, SSE Airtricity is increasing its electricity rates by 24% and gas prices by 32.3%. That means a hike to EUR 338 annually for electricity and another EUR 332 annually for gas.
Overall, Irish consumer prices have increased by 6.9%, with utility costs being the biggest contributor to that increase, according to Eurostat.