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21/10/2008
Bord Gáis Seek Hike Despite Gas Price Drop
Bord Gáis are reportedly preparing an application for an 8% price increase, despite their 20% increase in September, and a drop in the cost of gas supplies.
The proposed increase will be the second hike imposed on gas consumers this year as bills have already been hit with a 20% interim increase from September 1.
Gas has not plunged in price at the same rate as oil, but has been on a continued downward trend in the past few months.
The 8% rise is however less than what had been anticipated, as September's increase was supposed to part of a two part agreement with the regulator for a rise of up to 38% due to the earlier surging in world gas prices. The upcoming increase was due to fulfil the difference and provide an 18% rise for Bord Gais.
World gas prices have since fallen by almost one quarter however, and as a result, Bord Gáis has applied for a lower increase than expected. It will be up to the regulator to decide whether to sanction the rise, with changes in price expected to take effect from 1 January.
(DW)
The proposed increase will be the second hike imposed on gas consumers this year as bills have already been hit with a 20% interim increase from September 1.
Gas has not plunged in price at the same rate as oil, but has been on a continued downward trend in the past few months.
The 8% rise is however less than what had been anticipated, as September's increase was supposed to part of a two part agreement with the regulator for a rise of up to 38% due to the earlier surging in world gas prices. The upcoming increase was due to fulfil the difference and provide an 18% rise for Bord Gais.
World gas prices have since fallen by almost one quarter however, and as a result, Bord Gáis has applied for a lower increase than expected. It will be up to the regulator to decide whether to sanction the rise, with changes in price expected to take effect from 1 January.
(DW)
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Ireland WeatherToday:A mainly dry day with variable amounts of cloud and some bright or sunny intervals. Chance of the odd shower, especially in the south this afternoon. Warm across western counties. Maximum temperature 20 °C.Tonight:Some late sunshine this evening. Otherwise a cloudy night with patchy rain spreading west, becoming drier later on. Low and fog patches developing in the early hours. Minimum temperature 12 °C.
