Yuno Energy Announces First Price Increase for 100,000 Irish Customers Effective July 1

Yuno Energy has announced its inaugural price increase for Irish customers, with electricity and gas bills set to rise from July 1. The supplier, which entered the market in August 2023, attributed these increases to escalating wholesale energy costs, a direct consequence of the ongoing conflict in the Middle East.

Electricity prices will see a 9.5% increase, while gas prices will rise by 11% on estimated annual household bills. This adjustment is projected to add approximately €3.24 per week to the average electricity bill and €3 per week to the average gas bill for customers on standard rates.

This decision aligns with recent announcements from other suppliers, including Electric Ireland and Prepay Power, both of whom also cited higher wholesale energy costs stemming from Middle Eastern instability. Yuno Energy stated it had maintained a price freeze for 10 months over the winter period to safeguard customers during peak usage, a time when many competitors were implementing increases. Managing Director Margaret O’Connor emphasized that the company had kept prices stable since its launch in August 2023, but the impact of the Middle East conflict on wholesale energy prices made further delay impossible.

Additionally, Yuno Energy announced an 8% increase in export rates for solar customers, acknowledging the value of renewable electricity contributed to the grid. The supplier currently serves approximately 100,000 household electricity and gas customers.