Energy regulator set to reject ESB price rise

The energy regulator Tom Reeves is believed to be set to reject the ESB’s request to implement an 8% price increase in September.

The company has sought the increase to meet rising fuel costs, which account for 50% of the ESB’s spending.

Reports today said Mr Reeves would inform the company that he could not sanction an increase in September because more time was needed to determine if the price hike was warranted.

The ESB normally gets permission to increase prices every January, but it has sought permission to do so in September of this year because of rising international oil prices.