Hike in electricity prices to be revealed

Householders here are expected to find out later today how much more they will have to pay in electricity prices.

The Commissioner for energy regulation, Tom Reeves, is due to announce details of his review of electricity prices. It was reported in July that Reeves is set to increase electricity prices by as much as 15%, pushing the average two-monthly domestic bill up by €13.46.

It comes on top of last year’s increase in electricity costs of 9% and will apply to both residential and business customers.

The ESB has pledged that there will be no repeat of last year’s experience, where the immediate implementing of the increase caused havoc with billing. Instead, customers will have to start paying more for their electricity in October or November.