Pinergy is increasing its prices for electricity customers by 18% from September.
However, it is also increasing its daily prepay metre charge by 24%, while it's daily standing charge will increase by 30%.
It's the company's first price increase in 2022, however last year its prices went up five times.
Airtricity, Electric Ireland and Bord Gáis are among the companies to announce price hikes in 2022.
Bonkers.ie says this will impact 27,000 households, while since the start of 2021 Pinergy customers will be paying more than €1,100 a year for electricity.
In a statement, Darragh Cassidy from Bonkers.ie said, “today’s news was expected unfortunately given all the recent price increases that we’ve seen and the continued elevated cost of gas on wholesale markets.
"However, it doesn’t make the news any easier to digest.
“As just a supplier of electricity, Pinergy is making no money from generating electricity, so is highly exposed to rising energy prices.
“We’re heading into this winter with energy prices at absolutely astronomical levels and it’s set to get worse. It’s likely we’ll see another round of price hikes in a few weeks.
“To say these are unprecedented times is an understatement.
“Since January 2021, the average electricity bill has gone up by around €900 a year and the average gas bill by around €800.
“The Government needs to decide now how it plans to help households over the coming months. Is the temporary reduction in VAT being kept? Is another energy credit going to be paid? Is the Government going to place a windfall tax on energy companies - and if so, how would this even work when many are headquartered overseas?”
