Bord Gais chief Executive John Mullins has announced that it will be seeking a double digit price increase from the Commission for Energy Regulation in July, to take affect in October.
Gas: Increase of 10-20%
Electricity: Increase of around 10%
He blamed a spike in energy prices on international markets and pointed out that wholesale gas prices had doubled over the last year. The company was no longer in a position to absorb such significant price increases and would have to start passing them on to consumers.
If you are with BG, make sure to watch the market carefully over the next few months, if its a truly competitive market, the other players will either do their best to attract customers by resisting increasing their prices...or simply coalesce to increase prices across the board. Either way be prepared to migrate your supply when the dust settles we can see who is offering the best value in the market.
FS
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