Bord Gáis confirms 12% increase in electricity price next month

Bord Gáis Energy has confirmed it is to increase its residential electricity prices by 12 per cent from August 1st, This is likely…

Bord Gáis Energy has confirmed it is to increase its residential electricity prices by 12 per cent from August 1st, This is likely to add about €150 to the average household's electricity costs over 12 months, writes Conor Pope.

The company said yesterday the price increase was due to the significant increase in wholesale cost of commodities. Since the last residential electricity price cuts in October 2009, wholesale electricity prices had increased by more than 20 per cent, while the wholesale price of gas, a key commodity used in producing electricity here, had gone up by 39 per cent in the last 12 months.

“We have done our utmost to limit the overall price increase to 12 per cent despite much higher increases in international wholesale prices,” said Jason Scagell of Bord Gáis Energy.