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Friday 23 February 2018

Bord Gas announce 2pc hike in gas and electricity prices

HOUSEHOLDERS are facing higher gas prices from October.

Bord Gas is set to raise prices by 2pc, in a move that will send annual bills up by close to €20 over a year.

And electricity bills will rise by a similar amount, which will force householders to fork out an extra €50 a year for lighting and heat.

Bord Gais blamed the increase on the rise in network tariffs.

Managing director of Bord Gais Energy Dave Kirwan said the hike is regrettable, but necessary.

The gas company said it is committed to working with customers to help them to manage their bills.

It is the third year in a row that gas prices have gone up. Annual bills are set to come close to €1,000, a rise of more than €250 since 2011.

The State-owned gas supplier had sought a 7pc rise.

The new rise is set to come into effect on October 1 - just two weeks before what is expected to be another harsh Budget.

Simon Moynihan of price comparison site Bonkers.ie said the rise would add €18.42 to the average bill.

He said there would be a similar rise in electricity prices due to a higher public service obligation levy. This is to fund a subsidy for wind and peat-generated power.

The combined rises would add €52 to household heating and light bills.

 

Charlie Weston Personal Finance Editor

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