Dublin, 22 January 2015
Minister for Energy, Alex White T.D., today (Thursday) welcomed Bord Gais Energy’s announcement that it is to reduce its prices by 3.5% for gas and 2.5% for electricity. The development came as Minister White prepares to meet the chief executives of energy companies next week to outline whether wholesale energy price reductions are being adequately reflected in household bills.
Minister White said: “This is a very welcome development, and I hope to see other energy suppliers follow suit. I will be meeting with the energy suppliers next week to hear what they have to say on the question of passing on wholesale price reductions.”
Note for editors
Neither then Minister nor the regulator (the Commission for Energy Regulation) have statutory powers to compel energy suppliers to reduce prices.