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energy costs

Bord Gáis seeking 7 per cent price hike from October

The move would add almost nine euro per month to the average household winter gas bill.

A 7.22 PER CENT increase in charges for residential customers is being sought by Bord Gáis Energy.

The retail unit of the state-run utility company has made a submission to have its prices increased to the Commission for Energy Regulation.

The commission began its consultation process on the issue today, which is due to be wrapped up next Wednesday week.

According to the submission:

In accordance with the regulatory framework, BG Energy’s submission to the CER provides for a 7.22% increase in the residential gas tariffs from the 1st October 2013. This increase is largely driven by an increase in transportation tariffs.

The company says other costs have also increased, and refers to a rise in wholesale gas prices as well as “costs relating to the implementation of systems” necessary to comply with “certain regulatory obligations”.

A seven per cent increase would add almost nine euro to the average household winter gas bill. Submissions on the issue can sent by email to the Commission for Energy Regulation from today.

Bord Gáis Eireann is currently in the process of selling Bord Gáis Energy as part of a sell-off of state assets agreed with the EU/IMF Troika aimed at raising €3 billion.

Read: State asset sell-off begins as Bord Gáis Energy invites bids >

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