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Energy prices set to rise

Gas and electricity prices are due to rise sharply in the next year.

Barry O'Halloran at the Irish Times reports consumers will face rising energy costs as a result of increased wholesale costs to suppliers including ESB and Bord Gá



Sources at both companies acknowledged yesterday that such cost increases were "inevitable" in light of rising oil and natural gas prices on world markets. Neither could say by how much prices for householders would increase, but Bord Gáis is expected to give some indication when it publishes its 2007 results tomorrow.

Though it has seen price rises, gas has been relatively stable when compared to oil. Gas prices have been rising, however, and are now at record levels. As oil hit US$126 a barrel, natural gas prices yesterday hit a record 86.5 pence per unit in London.

Last modified on Tuesday, 13 May 2008 13:53