Irish Gas Prices Set to Decrease This Year by a Further 11%
Following publication today, 20 July 2007, by the Commission for Energy Regulation (CER) of its Proposed Decision in relation to regulated tariffs for residential and small commercial and industrial customers, Bord Gáis is pleased to announce an average natural gas reduction for residential customers of 10.5% from 1 October, 2007. The proposed price decrease will mean a reduction of approximately €100 on a typical annual residential natural gas bill of €922 and follows from an earlier price decrease of 10% in February of this year. This means an average price decrease of over 20% for residential customers. It is proposed that small and medium size business customers will receive an average price reduction of almost 12% from the same date, again, this means an average price decrease of over 20% this year.
Bord Gáis will introduce a new set of tariffs for residential and SMEs from 1 October, 2007, subject to CER approval following its recent consultation. These new tariffs will be simple to understand and residential customers will have a choice of tariff structure to suit their preference.
Commenting, David Bunworth, Head of Bord Gáis Energy Supply, said: “We are very pleased today to announce that the vast majority of our customers will further benefit this year from another price decrease in the cost of natural gas. With this latest decrease, natural gas will now be over 20% cheaper than oil for home heating. While the international gas markets remain unpredictable, we are happy to confirm our proposed second price decrease this year.”
ENDS
20th July 2007
For reference contact:
Kathleen O’Sullivan
Bord Gáis
Tel: 021 453 4273
Mobile: 087 244 6602
Paddy Hughes
Drury Communications
Tel: 01 260 5000
Mobile: 087 616 7811
Notes:
The CER’s Proposed Decision on Bord Gáis Energy Supply Revenue for Domestic and small Commercial and Industrial Customers for the period of 1 October, 2007 to 30 September, 2008 is now available on www.cer.ie
The average reduction in the price of natural gas for residential customers will be 10.5% from 1 October, 2007. Because it is proposed that new tariff structures will also be implemented from 1 October, some customers will see a greater reduction than others, while a small number of very high consuming customers will see some level of increase. The actual percentage change in annual bills will depend on the level of gas usage and current tariff choice.
On the typical annual consumption of 15,000 kWh, the annual gas bill has reduced from €1,024 (October 2006), to €922 (February 2007) and will reduce further to €822 (October 2007).