Airtricity has shed 10,000 customers in last year

Electricity and gas supplier Airtricity has lost 10,000 customers in the first three quarters of its financial year compared with the same period last year.

The company had 740,000 customers on its books in the nine months to December 31st, 2018, which was down from 750,000 for the same period the year before and down from 790,000 in the nine months to December 31st, 2016.

The figures are contained in a third quarter trading update from SSE, its Scottish parent company, and were published on Friday.

Airtricity followed in the footsteps of three other suppliers in December by raising electricity and gas prices for its customers by 6.3 per cent and 6.9 per cent respectively.

Wholesale energy prices rise 9% in January, finds Bord Gáis index

---

Top Oil new owner eyes further growth in Irish market

---

Wind energy investment costs consumers less than €1 a year - report

---

United Oil & Gas seeks alternative London AIM listing

---

The price hike saw Airtricity customers’ average annual electricity bill increase by €61.36, while €52.52 was added to their average annual gas bill.

It was the second time the supplier pushed up prices last year, with gas bills increased by 12.3 per cent and electricity bills raised by 6.4 per cent in July – which added €140 to the average annual dual-fuel energy bill.

The company said the increases were a direct result of increasing wholesale costs of energy.

Trading update

In Friday’s trading update, SSE chief executive Alistair Phillips-Davies said the company was making “good progress” in its core businesses.

“We have also demonstrated our ability to create value for shareholders through the recent sales of stakes in our telecoms business and selected onshore wind farms with expected proceeds of over £1 billion,” he said.

“We are also making progress in assessing the options for the future of the energy services business.

“SSE has a clear strategy and good long-term prospects for its high-quality core businesses and assets that contribute to the transition to a low carbon economy and will support the creation of value and delivery of our dividend plan in the years to come.”

On Brexit, SSE said it was monitoring developments closely and that it would make “all necessary” preparations.

“In light of the fact that the UK and EU have not yet entered into a withdrawal agreement, SSE has been making and continues to make necessary preparations to minimise any potential disruption to its operations on and around March 29th resulting from a no-deal UK exit from the EU,” it said.

“SSE will continue to monitor closely all Brexit-related developments, including any emerging operational, market, political or regulatory issues or developments that could have a direct or indirect impact on its businesses.”