Energy suppliers likely to raise Irish bills by about 10% in early 2027

Industry insider Daragh Cassidy of Bonkers.ie predicts Irish energy bills will rise again in the New Year, potentially by around 10%.

He told The Claire Byrne Show that global fossil‑fuel prices have surged this year due to ongoing conflict in the Middle East, pushing wholesale costs higher. Cassidy noted that last month Bord Gáis Energy, Energia and SSE Electricity each increased their gas and electricity tariffs by roughly 10% on average, while Electric Ireland announced a price freeze.

Despite wholesale prices possibly climbing 30‑40%, Cassidy explained that this would not translate directly into a similar increase for consumers because wholesale costs represent only about a third of the final bill. He warned that, if the current trend continues, suppliers are likely to pass on higher costs by February, leading to another price hike.

He added that energy suppliers usually set prices months in advance, buying energy ahead of time and averaging wholesale costs over several months. This lag means price changes are typically seen only a few times a year, often twice at most.

Overall, Cassidy said the longer the war in Iran persists, the greater the chance Irish households will face higher energy charges.

Source: Newstalk. Photo: Connor Scott McManus / Pexels.