An increase in residential gas rates from Bord Gáis Energy could add around €5 to your bill each month.

That's according to research carried out by Bonkers.ie, an Irish cost-comparison website.

The Commission for Energy Regulation has confirmed that it received an application for a rise of 7.22% from the company. If the move is approved, charges will increase from October.

Bord Gáis Energy is blaming the increase on transmission costs, adding that upwards pressure on future wholesale gas prices will have an impact on business.

Sinead Ryan of Herald.ie spoke to Newstalk's Breakfast about the limited options left to consumers: