IBEC critical of fuel price rises

Employers body IBEC has criticised the double-digit increases in electricity and gas prices for business customers.

Last Friday, the energy regulator sanctioned a 12.5% rise in electricity prices and a 11% rise in gas prices.

IBEC said it was pleased the regulator did not introduce the proposed ‘fuel variation’ clause on all electricity bills. Had it been introduced, it would have meant all electricity customers would be exposed to international commodity price movements in ‘real-time’, with bills fluctuating every billing period.