Bord Gáis set to raise gas prices by 7.5%

Bord Gáis Energy has today applied for a rise of more then 7.5% in residential gas prices.

Bord Gáis set to raise gas prices by 7.5%

Bord Gáis Energy has today applied for a rise of more then 7.5% in residential gas prices.

The Commission for Energy Regulation (CER) said that it is considering the request, and will decide in late August.

Bord Gáis indicated it asked for the increase, due to higher gas commodity costs and network tariffs.

The CER stated that if the increase is granted, it would be with regret, given the current difficult economic climate.

Chairman of the Commission, Dermot Nolan, admited that it is a big increase.

"They have been higher in the past," he said.

"I think Bord Gáis' suggestion is driven by an increase in the relative cost of gas when we buy it internationally

"Essentially, the euro has weakened very much against sterling. The price of gas is denominated in sterling, so it's much more expensive for us as a country to buy gas.

"We certainly think there's something to that argument - we'll be assessing it fully over the next few weeks, however."

More in this section

Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day.

Puzzles logo
IE-logo

Puzzles hub

Visit our brain gym where you will find simple and cryptic crosswords, sudoku puzzles and much more. Updated at midnight every day.

War of Independence Podcast

A special four-part series hosted by Mick Clifford

Available on
www.irishexaminer.com/podcasts

Commemorating 100 years since the War of Independence