Electricity price to rise 2% over plan to reduce greenhouse gases

THE price of electricity will be increased by up to 2% under Government plans to reduce greenhouse gases, and which were submitted to the European Commission yesterday.

Natural Resources Minister Dermot Ahern yesterday said the scheme to be introduced next year will push up the price of electricity by about 1% to 2% though this could have been as high as 7%.

From next year, companies will need a permit to produce a limited quantity of CO2, and they will have to pay for any extra they emit.