Go-ahead for dearer electricity and gas

CONSUMERS will be hit with a double price hike next month after the energy regulator gave the go-ahead for an increase in the cost of gas and electricity.

ESB prices will rise by 9% from next month and by a further 3.5% next January, meaning households will have to fork out an extra €78 a year.

This is the second price rise this year for the State-owned company, which made €250 million in profits in 2003. It has already increased prices by 18% last year and 9% on 2002.