Bord Gáis Energy has become the latest company to announce a hike in its domestic prices.

The company said customers will be charged 4.3% more for electricity and 2.3% more for gas from March 10th.

Price comparison site Switcher.ie said the increases will see customers paying an average of €18.72 extra for gas every year – and €44.40 extra for electricity.

Bord Gáis Managing Director Catherine O’Kelly said the hikes are necessary due to increases in wholesale energy costs.

“We have been working hard to hold off raising prices for as long as possible, particularly over the difficult winter months,” she said.

“However, increases in wholesale energy costs have forced us to raise our prices from March 10th 2019.

“We remain committed to doing all we can to ensure that our customers are receiving the best possible prices for their energy, and we will continue to monitor costs closely.”

Five other energy suppliers have already announced price hikes, including Pinergy, SSE Airtricity and Energia.

Switcher.ie managing director Eoin Clarke said the Bord Gáis increase is “at the lower end of the scale” – although it is the second time the company has announced a rise in the past seven months.

“Unfortunately almost all Irish energy customers will be impacted by one of these winter hikes sooner or later, with some supplier increases already coming into effect,” he said.

“And, although there was a short break between price hike announcements just after Christmas, this announcement today just goes to show that this round of winter increases is still in full swing.”