\u201cBord Gais Energy, Energia, SSE Electricity this month increased their prices by around 10% on average for gas and electricity,\u201d he explained.\u00a0<\/p>\n
\u201cYet some suppliers like Electric Ireland actually announced a price freeze.\u00a0<\/p>\n
\u201cBut I do think when we get into the New Year, we’re going to see suppliers having to hike their prices again.<\/p>\n
\u201cNow, if wholesale prices go up, let’s say by 30 or 40%, that doesn’t mean that people’s bills are going to go up by 30 or 40% because wholesale prices now only make up around a third of the bill.\u201d\u00a0<\/p>\n
![\"\"](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/10\/2XDYHRA.jpg\")
Workers installing solar panels on a roof in Ardara, County Donegal. Picture by: Alamy.com.<\/p>\n
Despite this, Mr Cassidy noted that given the volatility of global energy prices, predicting what Irish consumers will pay can be \u201ca bit of a fool\u2019s game\u201d.\u00a0<\/p>\n
\u201cBut I do think when we get into the new year, probably in February, we’re going to see prices go up again by maybe 10% or slightly more,\u201d he said.\u00a0<\/p>\n
\u201cEspecially if things keep going the way they are.\u201d\u00a0<\/p>\n
Mr Cassidy added that energy suppliers typically take their time to assess and forecast prices, which means it is usually several months before they agree on a price change.\u00a0<\/p>\n
\u201cThey’re not all buying energy today,\u201d he explained.\u00a0<\/p>\n
\u201cThey’re buying it weeks and months in advance.\u00a0<\/p>\n
\u201cSo, the price we pay for our gas and electricity is more like an average price of the cost of energy in wholesale markets over several months.<\/p>\n
\u201cThat’s why it does take time to feed through and some suppliers are happy to, or maybe not happy, but they do maybe absorb the cost a little bit as well.\u00a0<\/p>\n
\u201cSo, usually we only see prices go up from the main energy suppliers, the main gas and electricity suppliers, maybe twice a year max.\u201d\u00a0<\/p>\n
Overall, Mr Cassidy said that the longer the War in Iran goes on for, the \u201cmore likely\u201d it is that Irish households will end up paying more.<\/p>\n
Main image: Energy bills. Picture by: Alamy.com.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Energy bills are likely to go up again in the New Year, an industry insider has predicted.\u00a0 Global…\n","protected":false},"author":2,"featured_media":668414,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-668413","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/668413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=668413"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/668413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/668414"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=668413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=668413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=668413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}