TWO more energy providers are to increase their prices of electricity and gas next month.

Flogas is to push up electricity prices by 12.5pc, which will add €152 to the average annual bill.

It is also raising the cost of gas by 8.9pc from June 26, a move that will add €77 a year to the typical bill.

Panda power is increasing its gas and electricity prices by 9.8pc, in a move that will add €98 a year to the average gas bill. Electricity bills will go up by €141 a year.

This is the second time this year that both suppliers have announced an increase in prices.

It means the average Flogas and Panda Power customer is now paying over €220 a year more for their electricity compared to the start of the year.

It comes after green energy supplier Bright said last week it was pushing up its electricity prices for consumers from next month by 18pc, one of the highest rises seen in a long time.

Flogas chief executive Paul Kenny blamed rising wholesale costs that have affected all suppliers.

He said the firm cut gas prices by 10pc in October. This mean the net impact is a 4.4pc increase on last year’s gas prices.

Mr Kenny said April this year saw the highest wholesale electricity prices since the new Single Electricity Market commenced in October 2018, and higher than usual prices are likely to continue for some time.

“It is caused by factors outside the control of Flogas as there have been significant long-term unplanned outages of large electricity generation plants on the island. This, combined with increasing commodity and carbon emission costs, is forcing prices up.”

Panda Power managing director Brendan Traynor said it was forced to hike prices due to the high percentage of power plants on long-term outages.

This has reduced the level of power generation available in Ireland which has significantly increased the cost to supply energy over the last six months.

He added that wholesale gas and electricity costs were rising rapidly.

Earlier this month Pinergy increased prices for the second time this year.

Pinergy said its prices will rise by 8.2pc from June 11 next. The move will add €120 to the typical bill over a year.

In April the company’s unit rate price increased by 4.2pc, a move that amounted to an increase of around €53 per year, including VAT.

This year seven suppliers raised their prices citing issues with regulatory costs and wholesale prices.

Bord Gáis, Flogas, Energia, SSE Airtricity, Panda Power, Pinergy and Glowpower raised their prices.

Daragh Cassidy of price comparison website Bonkers.ie said we are now back in a period of rising energy prices.

“What’s frustrating is that it’s coming so soon after the last round. Both Panda Power and Flogas only last increased their prices in April.”

He said Irish electricity prices are the fourth most expensive in the EU and these increases aren’t going to help.

Mr Cassidy said all eyes will now be on the big suppliers, Electric Ireland and Bord Gáis, to see what they do.

He added that when one supplier increases its prices the others usually follow.