Regulator orders up to 12% cut in energy prices

CONSUMERS can take some comfort from the fact that gas and electricity prices are set to drop by up to 12% from May 1, but it has been claimed the cuts should be more significant in line with the downturn in world prices.

The Commission for Energy Regulation (CER) announced the cuts due to falling global gas prices and said if global prices continued to stay low consumers could look forward to further reductions before the winter.

The ESB has been told to cut prices by an average of 10.3% from May 1, while gas prices will be reduced by 12% on that date.