Gas prices will be cut by 12 per cent from May following a decision by the energy regulator to pass a fall in global gas prices to Irish consumers.
The Commission for Energy Regulation said consumers could also expect further price cuts before the end of the year if global prices continue to decline.
But Fine Gael’s energy spokesman Simon Coveney said the price cut was too little and claimed a 25 per cent reduction in domestic gas prices is possible.
“60 per cent of the retail price paid by consumers and businesses for gas is directly related to its wholesale price and there has been a 30 per cent reduction in that figure this year,” Mr Coveney said.
“The plummeting wholesale price of gas allied to a dramatic drop in the value of sterling must also be a factor in determining the cost of gas.
Read the full article Gas prices to be cut by 12% - The Irish Times - Fri, Apr 10, 2009
If you switched to the gas network and saved yourself 12-14% you can save yourself some more if you switch over now every penny helps these days