SSE Airtricity has announced a 9.5% increase in its standard variable electricity prices from next month, a move that will add around €150 a year to the average customer’s bill. The price hike, due to take effect on 20 October, is the company’s second this year and will affect nearly half of its 460,000 electricity customers across Ireland.
In April, the supplier raised electricity prices by 10.5% and gas tariffs by 8.4%. Taken together, the two increases mean that many of its electricity customers will face cumulative bill rises of 20% in 2024 alone. Gas customers, however, will not be affected by this latest adjustment.
The company attributed the decision to higher network and system operator charges, along with continued wholesale market volatility and the broader costs of doing business. “While investment in the grid is necessary, these regulatory network charges are outside of our control and come at a time of continued wholesale volatility,” said Stephen Gallagher, Managing Director of SSE Airtricity. He acknowledged the impact the rise would have on households, adding: “We know this news will be disappointing. Increasing our prices is always a last resort.”
Gallagher urged customers concerned about energy bills to reach out for support. “We have payment plans, offers, and tariffs in place to support customers this winter,” he said.
The announcement comes amid a series of price rises across the Irish energy market. Bord Gáis Energy, Energia, Pinergy, and Flogas have all announced increases in recent weeks, leaving households facing higher bills heading into winter. Electric Ireland, the country’s largest supplier, has bucked the trend for now, stating it will not raise electricity tariffs ahead of the colder months. The company also reduced its gas prices by 4% last month.
The latest increase has once again brought government policy under scrutiny. Minister for Public Expenditure Jack Chambers reiterated on Friday that there would be no one-off cost-of-living package in the forthcoming Budget. Instead, he said the Government would rely on targeted social protection measures to ease pressure on low-income families. “We need to ensure we manage the economy in a sustainable way, and that’s why it’s not possible to have a cost-of-living package again this year,” Chambers said. “But through interventions in the social protection system, we want to best support people in a targeted way.”
SSE Airtricity is part of the British utility group SSE, which reported operating profits of £2.42 billion (€2.78 billion) for the year to March. Its Irish division, SSE Airtricity, posted operating profits of £94.5 million (€108.5 million) over the same period.
Consumer groups have advised households to shop around and compare tariffs to offset some of the increases, noting that competition among suppliers can still yield savings despite the wider trend of rising energy costs.
