CER announces Bord Gåis Energy 1.47% residential gas price increase
Bord Gåis Energy residential gas customers face an increase of €0.26c per week
The Commission for Energy Regulation (CER) today announced that prices for Bord Gáis Energy’s residential gas customers will increase by 1.47% from 14th April 2014. Bord Gáis Energy is the only gas supplier regulated in the residential gas market.
The CER reviews Bord Gáis Energy’s prices on a quarterly basis and sets the prices that the company charges for residential gas based on a strict formula that assesses the costs of selling gas to customers. The decision by the CER is driven by a necessary adjustment to the tariff to ensure it is in line with the regulated formula prior to deregulation. This tariff increase will come into effect on 14th April 2014.
Commenting on the price rise Dave Kirwan, Managing Director, Bord Gáis Energy said: “Bord Gáis Energy recognises that price increases have an impact on customers, particularly in these difficult times. That is why we have worked with the CER to try to minimise the effect on our customers.
“We expect this to be the last regulated tariff adjustment of its kind by the CER. We look forward to deregulation in the residential gas market in the coming months, and to competing on a level playing field with other suppliers in both the gas market and on a dual fuel basis,” he added.
Speaking about the announcement, Eoin Clarke, head of Switcher.ie, said: “All price increase are unwelcome news for energy customers, many of which are struggling to keep their heads above water. This latest increase is outside the control of Bord Gåis Energy. The average gas customer now faces a €13 increase on their annual gas bill.
“Bord Gáis Energy is showing commitment to customers who find it hard to pay their energy bills by introducing Pay as You Go Meters, payment plans and a Level Pay option which allows customers to improve budgeting and avoid large unexpected bills, by spreading their energy payments over the course of the year.
“The deregulation of Bord Gáis Energy is edging closer, but according to the Commission for Energy Regulation it remains unlikely until at least May 2014. Open competition will benefit energy customers who are looking to reduce their energy bills.”