THE price of electricity for householders will rise significantly as a result of the new EU agreement on competition in the electricity industry, according to the Fianna Fail spokesman on energy, Mr Seamus Brennan.
He has challenged the claim by the Minister for Transport Energy and Communications, Mr Lowry, that consumers will benefit from the new EU energy market.
Referring to the agreement on competition reached by energy ministers in Luxembourg on Wednesday night, Mr Brennan said: "The Minister is obviously trying to put a good spin on a very bad situation. The reality is that householders will face a serious price hike following the opening up of the electricity market.
"Fianna Fail supports balanced competition in the electricity market. However, this deal means that householders will have to take the full hit.
"While some large industries will be able to import cheaper electricity, domestic customers will, as a result, face higher tariffs from the ESB to make up the loss of the big customers.
A spokesman for the Department last night denied "the suggestion by Mr Brennan that, as a result of yesterday's directive, prices for householders will go up