Bord Gáis to increase gas prices next month

Just a month after it was announced Bord Gáis was increasing its electricity prices by 2.2%, it has confirmed it is upping its gas prices, with yearly bills set to rise by €13 on average.

The Commission for Energy Regulation (CER) said Bord Gáis residential gas prices will increase by 1.47% from April 14.

The company is the only supplier regulated in the residential market so all homes using gas will be affected.

Bord Gáis Energy said CER reviews its prices on a quarterly basis and sets the prices that the firm charges for residential gas “based on a strict formula that assesses the costs of selling gas to customers”.

“The decision by the CER is driven by a necessary adjustment to the tariff to ensure it is in line with the regulated formula prior to deregulation,” it said.

Dave Kirwan, the company’s managing director, said: “Bord Gáis Energy recognises that price increases have an impact on customers, particularly in these difficult times.

“That is why we have worked with the CER to try to minimise the effect on our customers. We expect this to be the last regulated tariff adjustment of its kind by the CER.

“We look forward to deregulation in the residential gas market in the coming months, and to competing on a level playing field with other suppliers in both the gas market and on a dual fuel basis.”

The company said an increase of 1.47% will add 25c per week or €13 per annum including Vat to an average annual residential gas bill based on the CER average consumption of 13,800kWh.