Tuesday 16 January 2018

An Post hikes cost of stamps up by 5 cent

Aideen Sheehan Consumer Correspondent

AN Post is to hike the price of a stamp by five cent next month.

Communications regulator Comreg approved an increase of more than 10pc in the cost of a standard stamp – from 55c to 60c – while the price of sending an international letter outside the island of Ireland will also rise – from 82c to 90c. The price increases will take effect on April 2.

Comreg said it was agreeing to the increase in price for a standard letter following a public consultation.

"The financial challenges facing An Post are such that the price increases hereby consented to can only be one of a series of measures necessary to ensure the continued financial viability of An Post," Comreg Commissioner Kevin O'Brien said.

"These various measures must include cost containment and growth in other commercial activities. It is for An Post to address its financial challenges by identifying and taking these other necessary measures as a matter of urgency," he said in a letter to An Post chief executive Donal Connell.

An Post said that the standard domestic postal rate had not changed since March 2007, a period of more than six years.

The price of stamps would remain among the lowest in EU countries including Britain, France and Belgium, it said.

"This increase is essential to sustain the financial stability of An Post's Universal Service Obligation (USO), whereby all customers, in all areas, are provided with daily collection and delivery services for a uniform tariff," it said.

"An Post continues to focus on stringent cost saving and the development of new revenue streams, but this price increase is required to ensure a sustainable USO," a spokesperson said.

The new stamp price of 60c will apply to all domestic letters under 100g posted to addresses in Ireland.

Irish Independent

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