Bord Gáis to reduce prices

Bord Gáis has said it expects to reduce gas prices to customers this year after they reported a 29% increase in turnover to more than €1.1bn for last year.

However, it means the gas suppliers have reported a 8% drop in pre-tax profits to €99m

The company blamed the profits dip mainly on a huge increase in wholesale gas prices.

Chief executive Gerry Walsh said the company expected to reduce gas prices to customers during this year as wholesale prices began to ease.

He said consumers could expect a reduction of at least 10% from October 1.