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Monday 11 December 2017

Energy bills falling at last... but not by much

Woman with bills
Woman with bills

Well that only took a year! With oil prices plummeting through the bottom of their barrels it seemed a no-brainer that its derivative products, gas and electricity, would start falling in price too.

But utility companies are taking a mealy-mouthed approach.

First out of the box was Electric Ireland, in fairness, last November.

But its 2.5pc decrease on electricity prices didn't amount to a whole hill of beans.

Bord Gais Energy (now Ervia) in its newly deregulated state has followed suit with 2.5pc but not until March 16 - just when we're cutting back as the spring takes hold.

SSE Airtricity announced a 2pc drop in electricity and 4pc in gas prices, but only from April 1. No, it not a joke, but you'll hardly have the gas on full blast by then.

In reality, the average gas bill of €919 pa will drop by just €35, while electricity, usually €1,206 pa will see a saving of €23.

Across the water, calls from the British government saw provider Ovo introduce a 10.4pc drop this week, while British Gas dropped their prices by 5pc.

It's still a long way off the 19pc drop in wholesale prices, mind you.

But perhaps the Commission on Energy Regulation here will now be pro-active and make sure consumers get the full benefit of lower energy prices passed on - instead of a grudging couple of quid.

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