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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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