Latest news with #SeanO'Loughlin
Extra.ie
5 days ago
- Business
- Extra.ie
Electricity bills set to hike for thousands of Irish homes
Thousands of people are set to see an increase in their electricity bills soon with energy company Flogas hiking its rates. Starting on August 25th, the Irish provider is set to increase its variable electricity charges by around 7%. For a typical Flogas residential electricity customer, the changes will mean an increase of around €10.51 a month, or €126 a year, on their bills. Flogas are increasing their rates on August 25. Pic: Shutterstock The energy company currently has about 43,500 residential electricity customers on variable rates. Flogas Energy Managing Director Sean O'Loughlin stated, 'We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Plan and pre-payment meters.' The hikes come as the government has confirmed that one-off cost of living measures, bonuses and electricity credits will not be a feature in the upcoming budget. In recent years, the public has come to expect energy credits as part of the government's annual budget announcements. For Budget 2025, two €125 energy credits were issued with one in January and another in November. Previous budgets have included a range of cost-of-living supports such as double payments and bonus lump sums. However, these measures will not be included this year. Minister for Public Expenditure, Jack Chambers, stated that while several one-off payments were made in recent years for certain social welfare schemes, this year will mark a departure from that approach. Public Expenditure Minister Jack Chambers revealed no electricity credits will be in this year's Budget. Pic: Fran Veale Chambers appeared on RTE's News at One to give information on what shouldn't be expected in Budget 2026 and pointed out that the government wants to take decisions that would be 'sustainable with global uncertainty'. According to the Irish Independent, around one in eight domestic electricity customers were behind on their electricity bills earlier this year. Commission for the Regulation of Utilities figures showed that in the three months before April, a total of 286,000 households were in arrears. Pic: Getty Images This is up by 85,734 when compared with the same quarter last year. A total of 175,500 households are behind on gas bills, up around 15,000 on last year. Average arrears on electricity bills is €437, according to the CRU. On gas bills, the average arrears amount is €213. A sobering thought for many as we gallop towards autumn and winter and the colder months ahead.
Irish Post
6 days ago
- Business
- Irish Post
Flogas announces energy price rise from August
PEOPLE in Ireland are facing another rise in their energy bills as Flogas has announced a 7% increase in its variable electricity charges, from August 25. The price hike, which is the company's first in three years, will see an average residential customer paying an additional €10.50 per month, or around €125 annually. The increase follows a 15% reduction in Flogas electricity rates last year, but the company says the move is necessary due to significant rises in network charges. Managing Director of Flogas Energy, Sean O'Loughlin, said the decision reflects a 21% increase in network costs that took effect in October 2024, with further increases expected in October 2025. Flogas currently supplies electricity to 43,500 residential customers on variable rates, all of whom will be affected by the change. Customers on fixed-rate electricity plans and those using Flogas for natural gas will not see any price adjustments. This latest announcement comes on the heels of news from EirGrid, which recently announced higher network charges approved by the Commission for Regulation of Utilities. These charges, aimed at funding upgrades and ongoing maintenance of the national grid, are expected to add an average of €8.40 per month, or roughly €100 annually, to people's electricity bills across the country. Flogas has advised customers that changes will apply to both unit rates and standing charges and has encouraged users to consult its website for full details. The company acknowledged the financial burden the increase may pose and is offering a range of supports, including payment plans. O'Loughlin urged customers experiencing financial pressure to reach out to Flogas for assistance, stating the company's customer service team is available to help as much as possible. The announcement adds to growing concerns over the cost of living, as Irish energy users contend with multiple price increases driven by infrastructure demands and regulatory changes. See More: Bills, Cost Of Living, Energy, Flogas
The Journal
6 days ago
- Business
- The Journal
Flogas ups residential electricity prices by 7% from next month
ENERGY SUPPLIER FLOGAS has announced an increase of around 7% in its electricity charges, starting next month. For a residential electricity customer, the changes will mean an increase of around €10.51 a month, €126 annually. It will take effect from 25 August. Residential natural gas customers are unaffected by the change. The company defended the increase, pointing to the hike being its first price increase in three years. Flogas had reduced its rates by 15% last year . Sean O'Loughlin, managing director of Flogas Energy, said the increase was in part due to increase in netowrk charges which are set by the Commission for Regulation of Utilities to maintain netwworks. Advertisement 'While we understand that any price change can be challenging for our customers, this announcement reflects a 21% increase in network charges introduced in October 2024, with further increases anticipated in October 2025,' he said. 'We will support affected customers through our customer service team as much as possible and have a range of options, including payment plans, budget plan and pre-payment meters. We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us,' O'Loughlin added. Flogas said it encourages all customers to ensure they are on a discounted contract, and where they have a Smart meter installed, to switch to a Flogas Smart Tariff. Market analysts Bonkers said that while wholesale energy prices have reduced since the height of the energy crisis caused by the war in Ukraine in 2022, they still remain high. It noted that wholesale prices remain around 80 to 90% above the level they were at before the war broke out. 'On top of this, costs for the upkeep of the electricity grid in particular keep on rising,' Darragh Cassidy of Bonkers said on the increases. 'Around 30% of the price we pay for our electricity and gas goes to Eirgrid and ESB Networks, and Gas Networks Ireland for the upkeep of the electricity and gas networks respectively. 'Households don't see these charges on their bills as they're incorporated into the unit rate as well as the standing charge that we all pay. But these costs have been increasing over the past few years.' Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
The Irish Sun
6 days ago
- Business
- The Irish Sun
Major blow for 43,500 Irish billpayers as electricity company to hike prices by 7% from next month as new costs revealed
HOUSEHOLDS across the country are set to be hit with another price hike on their bills from next month. Flogas has announced an increase of approximately 7 per cent in its variable charges - the company's first price increase in three years. 2 The rates come into effect from August 25 Credit: Alamy 2 Irish homeowners are warned over the energy price hike Credit: Getty Images The price increase follows a 15 per cent reduction in its The rates come into effect from August 25, 2025. The spokesperson for Flogas states that the main reason for the For a typical residential electricity customer, the changes will mean an increase of around €10.51 a month on their READ MORE ON CASH BOOST However, this affects only 43,500 residential electricity customers on variable rates, as those on fixed rates are unaffected by the change. But they are warned that once the fixed rate contracts end, they will automatically default to one of their standard variable plans unless they enter into a new contract with Flogas. Those on variable rates can minimise the impact of the price increases by taking advantage of their current Most read in Money Customers who recently switched to Flogas and are availing of a new customer discount will continue to receive the same discount, but it will now be based on a higher unit rate. Commenting on the announcement, Sean O'Loughlin, Managing Director, Flogas Energy, said: "While we understand that any price change can be challenging for our customers, this announcement reflects a 21 per cent increase in network charges introduced in October 2024, with further increases anticipated in October 2025. Tax and spending package of €9.4bn to form basis of Budget 2026 "We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, "We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us . " Flogas has encouraged all customers to make sure they are on a discounted contract and, where they have a Smart meter installed, switch to a Flogas Smart Tariff. The smart tariff can shift usage to lower cost times, meaning some appliances, such as dishwashers and washing machines, can be scheduled to run through the night, when the prices are cheaper. 'STILL REMAIN HIGH' Commenting on the energy price increase, Darragh Cassidy from "For example, wholesale electricity prices remain around 80 to 90 per cent above the level they were at before the war in "On top of this, costs for the upkeep of the electricity grid in particular keep on rising. "Around 30 per cent of the price we pay for our electricity and gas goes to Eirgrid and " 'ANOTHER HIKE IS EXPECTED' "For example last year the energy regulator, the CRU, approved a hike in grid fees for the electricity network that worked out at just over €100 a year per household. "Another hike is expected in August. And further increases of between €6 to €16 a year have been flagged for the following five years after that. "So unless we see wholesale prices start to fall substantially, more price hikes over the coming months and years can't be ruled out. "All the other suppliers in the market are being faced with the same situation, so most are likely to follow suit by the end of autumn. "However there are still good deals available to those who switch with discounts of up to 30 per cent or more available for an entire year. So anyone worried about high energy costs should absolutely looking at switching."
Irish Independent
6 days ago
- Business
- Irish Independent
Flogas to hike electricity prices from next month
For a typical Flogas residential electricity customer, the changes will mean an increase of around €126 per year or €10.51 a month. This is the second price increase announced for customers this month after EirGrid announced plans that will lead to increased network charges. These increases are partly due to the CRU approving EirGrid's revenue requests for network upgrades and maintenance. The average monthly increase is expected to be around €8.42 from this, which translates to roughly €100 per year, Flogas' increases will take effect from August 25. Residential natural gas customers are unaffected by the change. Flogas says it is their first price increase in three years and follows a 15% reduction in its electricity rates in 2024. Unit rates and Standing charges will be changing and they have advised customers to consult their website for more details. Flogas currently has 43,500 residential electricity customers on variable rates. Residential electricity customers on fixed rates are unaffected. Commenting on the announcement, Sean O'Loughlin, Managing Director, Flogas Energy, said 'While we understand that any price change can be challenging for our customers, this announcement reflects a 21pc increase in network charges introduced in October 2024, with further increases anticipated in October 2025. 'We will support affected customers through our Customer Service team as much as possible and have a range of options, including payment plans, Budget Plan and pre-payment meters. We would ask any Flogas customer who is facing financial pressure around their energy bills to contact us,' O'Loughlin continued.
