SFA: ESB price hike will result in job losses

Jobs will be lost as a result of the latest ESB price hike, according to the Small Firms Association.

The Commission for Energy Regulation has given the go-ahead for an interim increase in electricity prices of 17.5%.

It will come into effect on August 1, and a second rise could be on the cards before the end of the year.

The Commission said that its decision has been based on rising international fuel prices.

Patricia Callan from the SFA said the hike would have severe consequences on vulnerable sectors of the economy.