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04/02/2009
Energy Prices Could See Double-Digit Drop
The Minister for Energy, Eamon Ryan, has said he expects to see large falls in electricity prices this year.
The Green Party minister told the Daíl yesterday he has asked the Commission for Energy Regulation to carry out an immediate review of electricity and gas prices.
Recent gas price projections and oil prices have been falling since the inflation of fuel costs came to an end after the onset of the current world wide economic depression, and subsequent drop in demand.
Although most of Ireland's power comes from natural gas, oil prices are believed to also significantly drop and producers are said to be hoping to stabilise the cost of a barrel of crude between $70 and $80.
The Minister told the Dáil last night that the supply-demand problem that arose during the period of sustained economic growth was being addressed with additional plants coming on board.
He added that the introduction of competition was also having a direct impact driving energy prices down.
(DW/BMcC)
The Green Party minister told the Daíl yesterday he has asked the Commission for Energy Regulation to carry out an immediate review of electricity and gas prices.
Recent gas price projections and oil prices have been falling since the inflation of fuel costs came to an end after the onset of the current world wide economic depression, and subsequent drop in demand.
Although most of Ireland's power comes from natural gas, oil prices are believed to also significantly drop and producers are said to be hoping to stabilise the cost of a barrel of crude between $70 and $80.
The Minister told the Dáil last night that the supply-demand problem that arose during the period of sustained economic growth was being addressed with additional plants coming on board.
He added that the introduction of competition was also having a direct impact driving energy prices down.
(DW/BMcC)
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High-Powered Dublin Meeting For Gaelectric
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Ireland WeatherToday:Storm Bert will move east through the Northern Isles today. Though weakening it will still bring strong to gale winds to many in Northern Ireland and showers to all, these frequent, occasionally heavy across northern districts. Maximum temperature 10 °C.Tonight:Strong west to northwest winds easing overnight. Showers, most frequent during the evening and in north but dwindling overnight to leave most dry and bright come dawn. Minimum temperature 1 °C.
