THE COMMISSION for Energy Regulation (CER) has announced that it is to maintain gas prices at current levels for residential and business customers until the end of September, although it has warned that consumers are likely to face increases after that.
The announcement was welcomed by Bord Gáis. Chief executive John Mullins said it was “pleased that despite a 21 per cent increase in international wholesale gas prices since last April, we have been able to maintain prices at their current level”.
Over the past two years, Bord Gáis Energy has been able to lower the prices of its gas by 25 per cent and prices for residential customers are currently at 2005 levels.
Mr Mullins said gas prices for all classes of business and residential customers were below the European average. He said that when they were adjusted for purchasing power parity “the domestic customer is paying 26 per cent less than the European average”.
He did, however, warn that if the current trend on the international gas markets continued, price increases “are inevitable at the CER price review due next October”.
The UK has recently experienced substantial retail gas price increases, with hikes of up to 9.4 per cent implemented in December.
