Sinn Féin has said Electric Ireland's prices increase "could not come at a worse time for people".

The company announced it is to increase its residential electricity prices by 9% and residential gas prices by 7.8% from 01 August.

The party's spokesperson on Climate Action, Communications and Transport, Darren O'Rourke TD, said: "Hundreds of thousands of people are still unemployed due to the pandemic and many households are barely making ends meet as it is.

"These price increases could add €100 a year to the average annual electricity bill and €60 to the average annual gas bill.

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"Last year I called for a freeze on energy price hikes during the ongoing pandemic, but nothing was done on this front.

"Instead the current government actually piled on the pressure with further carbon tax and PSO increases.

"According to figures from Eurostat, electricity prices in Ireland are 23% above the EU average and the fourth most expensive in the EU.

"Households are being hammered with energy prices here. On top of the cost of rent, childcare and insurance, many people find themselves under severe financial pressure.

"My colleague Senator Lynn Boylan published the results of a survey earlier this year which shows people are already put to the pin of their collar when it comes to energy costs.

"Almost half of respondents said they go without heat because of the cost, while two thirds found it difficult to afford fuel.

"Unfortunately, these new energy price increases will push even more households into energy poverty."