CER considering gas price increase


RTÉ News has learned that the Commission for Energy Regulation (CER) is considering a gas price increase of between 35% and 40%.

The announcement follows a 17.5% interim increase in electricity prices, which will take effect from 1st August. The ESB sought and secured the electricity price increase as a response to ongoing volatility in the international energy market (Click Here).

The increase in electricity prices will take effect from August and will cover the period until January 2009. After that, it is likely that there will be a further price increase.

The regulator said that the increase was regrettable, but inevitable.

However, now RTÉ News has learned that gas prices could increase by more than 35% - once again a reflection of the market instability.

CER is considering splitting the price increase - with the first rise taking effect from 1 September of this year and a second hike in the new year.