Energy provider PrepayPower is to increase its electricity prices by nearly 10% and its gas price by almost 20% from next month.

It is the company's second hike this year - the first rise was on April 1.

PrepayPower, which has 170,000 electricity customers and 60,000 gas customers, said the increase was "a result of rising energy costs internationally".

When the latest rise kicks in on July 1, its customers will on average pay around €3.05 more a week for electricity and €4.65 for gas - a rise of €158.60 and €241.80 per year respectively.

The company announced three price increases last year.

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A company spokesman said: "Our hedging strategy has enabled us to avoid some of the larger increases that others have had to pass on, but any increase is regrettable."

There has been over a dozen announcements of tariff increases this year.

Most recently, Electric Ireland raised its residential electricity prices by 23.4% and gas prices by 24.8% on May 1 and SSE put up its price up by 24% for electricity and 32.2% for gas on the same date.

Bord Gáis Energy also increased what it charges for electricity by 27% and for gas by 39% on April 15.

Taoiseach Micheál Martin has warned Irish consumers of a "new era" of high energy prices because of Russia's war on Ukraine.

On Tuesday, Spanish energy supplier Iberdrola announced it was exiting the Irish gas and electricity retail market.