Irish Gas prices to drop by 10.5%

Jul 23, 2007

Dear god this must be the first price decrease I’ve seen in over 2 years in a country where the cost of living increases daily!.

The Commission for Energy Regulation has approved a 10.5% reduction in the price of gas. This represents a reduction of about €100 in the average annual bill.

Bord Gáis had applied to the Energy Regulator, which oversees pricing levels, for a 10% reduction.This is the second time this year that gas prices have fallen, in February they went down by 10%.

The latest reduction is being driven by a drop in the price of wholesale gas coupled with lower running costs in the gas network.

Today’s announcement will be welcomed by consumers who witnessed a 34% increase in gas prices last October. But they will have to wait until 1 October for the reduction to come into effect.


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