Time for energy companies to pass on reduced prices – Buttimer

23rd January 2015
By Bryan Smyth
bryan@TheCork.ie

Cork South Central Fine Gael TD Jerry Buttimer has called on energy
suppliers to follow the lead of Bord Gais in reducing prices.

“It is long overdue for energy companies to reduce the cost of gas and
electricity for consumers. The decision by Bord Gais to reduce prices
will be welcomed but it should have happened months ago. Other energy
companies should now follow suit and pass on to consumers the reduced
prices.

“Over the last seven months the price of oil on international markets
has fallen by about 55%. In that time we have seen limited benefits
at the fuel pumps but no change in electricity and gas prices. When
wholesale prices go up companies are very quick to pass on the extra
costs to consumers but they are not so quick when prices are falling.

“Bord Gais Energy has announced that it will reduce its prices by 3.5%
for gas and 2.5% for electricity. This will make a difference to its
customers. Now the other energy providers must do the same. Next
week the Minister for Energy, Communications and Natural Resources,
Alex White, will meet the chief executives of energy companies to
discuss this exact issue. It must be made clear to energy companies
that wholesale energy price reductions should be reflected in
household bills.”

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