Bord Gáis operating profits up 74% while customers deal with price hikes 4 months ago

Bord Gáis operating profits up 74% while customers deal with price hikes

The company has increased its prices three times in the last year.

Bord Gáis Energy’s operating profits rose by 74% in the first half of 2022.

The company had an adjusted profit of €39.5m in the first six months of 2022, compared to a profit of €22.7m in the same period of last year.

It comes as customers of the utility company have faced a series of price hikes during the cost of living crisis.

Bord Gáis Energy has increased prices three times in the last year, including one increase on the average gas bill of €8.16 per month and a €10.26 per month increase on the typical electricity bill.

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Prices also increased in April this year as the company ended its winter pledge and increased prices by 27% for electricity and 39% for gas.

Bord Gáis Energy's customer numbers rose slightly to 513,000.

In its results, the company said its profit and improved performance were "despite reduced retail margins in a challenging environment for energy supply."