ESB increase - Households will suffer

The huge increase in electricity charges announced yesterday is symptomatic of the insidious cost of living here that seems to creep higher and higher with each passing week.

It is the second ESB increase in less than a year and, this time, the brunt of it will be borne by households rather than industrial users.

It is poor consolation to families that, before the previous increase last October, they had enjoyed a price freeze for a few years. This comes close upon the introduction of the euro, which caused a range of prices to jump by anything up to 15% since last January. When it comes into force next March, it will have a serious impact on household budgets, but will also have a detrimental affect on Ireland’s annual rate of inflation, which is now the highest in Europe.