Energia has become the latest energy company to hike their prices ahead of the winter months.
The supplier has said electricity customers will see an increase of 29% from October, while gas bills will rise by 39%.
The change will be implemented on Friday October 7th.
The increases will add around €510 a year to the average customer's electricity bill, and €520 to a gas bill.
It is increasing the unit price of electricity by 33.5% and the unit price of gas by 47.11%.
The move will impact some 160,000 electricity customers and 60,000 gas users.
Energia last increased its prices in April, when it upped the price of its gas and electricity by just under 19%.
It also increased prices three times in 2021.
Daragh Cassidy is head of communications at bonkers.ie.
He said this increase wasn't a surprise.
"Today's news was expected given recent price hike announcements from Electric Ireland, SSE Airtricity, Bord Gais Energy and others.
"This brings to an end this cycle of rate hike announcements. The question is when the next one begins.
"Unfortunately it’s almost certain all suppliers will raise prices again in a few months unless there is some type of intervention in the energy markets", he added.
