Bord Gáis - State energy needs get timely boost

WITH the uncertainty that pervades global oil supplies at the moment and into the future, the announcement yesterday by Bord Gáis of its intention to develop a power plant at Whitegate, in County Cork, is to be welcomed.

The State-owned natural gas company has signed an agreement to build a €300 million 440 MW gas-fired electricity generating plant on a 25-acre portion of the ConocoPhillips site.

Although it is not expected to be operational for at least another three years, the news is reassuring for consumers who face increasing oil and gas prices caused by the US-Iran nuclear crisis, and the inevitability of an approaching interest-rate hike, as signalled by the European Central Bank.