Electric Ireland is the latest energy provider to announce price hikes.
These will take effect from May 1st, with the company saying both gas and electricity customers could see annual bills increase by more than €500.
For electricity, the average bills will go up by 23.4%, while the gas bills will increase by 24.8%.
"We are acutely aware that the rising cost of living is causing difficulty for households across the country, said Electric Ireland's Executive Director Marguerite Sayers.
"Unfortunately, the unprecedented and sustained volatility of wholesale gas prices over the last 12 months means that we now need to increase our prices.
"We delayed the increase as long as we could in the hope that wholesale prices would drop back to early 2021 levels, but regrettably this has not happened."
The company said it can give support to customers struggling with bills through the Money Advice and Budgeting Service (MABS) and the Society of St Vincent de Paul.
