ESB under fire for not passing on savings to customers

The ESB has come in for criticism for not passing on more cuts to the public despite profits of more than €600m last year.

The cost of both wholesale gas and oil collapsed in 2015, but customer prices have fallen by only 4%.

Consumer groups want the energy regulator to intervene and ensure that savings are reflected in bills.

Managing Director of Bonkers.ie, David Kerr, has said people still need to shop around: “The regulator has worked extremely hard to get out of price setting.

“So they no longer set the price for gas or electricity, the average customer will save €376 per year on their gas and electricity, just by shopping around.

“And the competition is absolutely fierce right now, these are the biggest percentage discounts we have ever seen.”