Energy Regulator Questioned Following Price Hike Approval

Fianna Fáil Spokesperson on Energy, Michael Moynihan TD, says the announcement that Bord Gáis has been granted a 8.5% price hike calls into question the performance of the energy regulator and Department of Communications, Energy and Natural Resources.

Bord Gáis energy applied to the Commission for Energy Regulation (CER) for a 7.54% rise in its residential gas tariffs from October but it was announced today that a hike of almost 1% extra has been granted.


Deputy Moynihan commented: "The announcement that Bord Gáis has been granted a price hike of almost 1% over what they asked for raises serious questions about the performance of the energy regulator.

"Over the past 12 months, Bord Gáis has been able to increase its gas prices by a whopping 30%.

"The latest hike amounts to an average increase of €62 to a household’s annual gas bill. In 12 months the average gas bill for a household has gone up from €700 to €1,000, which is a rise of almost 43%.

"The role of the regulator must be to protect the interest of consumers and act as a break on the price hiking instincts of the utility company. Incredibly in this case, the state regulator has not only acceded to the utility’s request but gone above and beyond the price increase sought.

"This raises serious marks about what interaction there has been between the Department and CER."

(CD)