Energy regulator criticised for approving ESB price hikes

The energy regulator is coming under fire today for granting two price rises to the ESB last year amid reports that the company made a profit of €500m in 2005.

The profits are believed to be largely the result of the increased charges to customers that were approved by the Commission for Energy Regulation.

Michael Kilcoyne of the Consumer Association has accused the regulator of failing to do the job it was appointed to do.

"There was a regulator put in place whose job it is to ensure that customers get electricity at a reasonable price," he said.

"It seems to me that the regulator is more inclined to assist the ESB and ensure they make huge profits at the same time as the consumer is being robbed."