Energy costs stay steady for August

ENERGY costs have remained steady in August, according to the Bord Gáis Energy Index (BGEI), reducing pressure to increase gas and electricity prices by more than the planned 22%.

The BGEI stayed at 139 during the month as a fall in oil and natural gas prices was offset by increases in both coal and electricity prices.

However, the upward year-on-year trend for wholesale energy prices continues, with the index now 27% higher than in August 2010 and 57% higher than in August 2009 indicating that the long run rising trend remains intact.