Lower prices hit Bord Gáis profits

GAS prices have hit rock bottom but a hike this year is unlikely, according to Bord Gáis which yesterday poured cold water on any talk of privatisation.

The Cork-based company said yesterday pre-tax profits fell by €32 million last year to €119m, due in part to lower gas prices.

In 12 months Bord Gáis has lowered the price of gas three times and chief executive John Mullins said yesterday that although a price hike this year is unlikely, if there is one it will be “marginal”.