Bord Gáis Energy has today (Tuesday, March 15) announced that it will be ending its ‘winter price pledge’ resulting in increases in customers’ bills from next month.

In a statement, the company has said that “with high global wholesale energy costs and market volatility expected to continue for some time, Bord Gáis Energy has today confirmed that its winter price pledge, which protected customers over the colder winter period, is ending”.

“Regrettably, the company is increasing the average electricity bill by 27% and the average gas bill by 39%. The changes will take effect from April 15, 2022,” it said.

Recognising that some customers will experience difficulties in managing their bills, Bord Gáis Energy said it has put in place additional supports and services to help.

Working in partnership with the Money Advice and Budgeting Service (MABS) and other charities, Bord Gáis is establishing a support fund and said it will provide advice to help customers.

Dave Kirwan, managing director with Bord Gáis Energy, said: “We know that today’s announcement is not welcome news. However, there have been continued increases in wholesale energy costs over the past two years, particularly in the past 12 months.

“This, together with the expectation that costs will remain both high and volatile for some time, means we are forced to increase our prices. 

“We know that each customer’s circumstances are different, and we are determined to help those who need it most. That is why we are announcing an energy support fund of €1.25 million in addition to the services we already have in place,” Kirwan added.

The range of factors driving the rising cost of wholesale energy have been extensively discussed in recent times.

These include the persistence of high demand on gas worldwide, reduced supplies, low storage volumes, geo-political issues and late winter conditions.