Bord Gáis Cost Cut Only Partially Reflects Fall in International Prices – IFA

IFA’s Inputs Project Team Leader James McCarthy has welcomed the decision of Bord Gáis Energy to reduce electricity and energy prices. However, he has called on the company and all other energy suppliers to further reduce these prices, in line with the 50% fall in international fuel prices.

He said, “The full cost savings enjoyed by energy companies are not being passed back. This is placing an unjustifiable cost burden on businesses and consumers.”

In recent weeks, IFA has written directly to the Commission for Energy Regulation (CER) and Minister for Energy Alex White T.D. seeking their intervention to ensure national competitiveness is improved by instructing energy companies to reduce energy costs in line with falling international oil and gas prices.

Mr McCarthy said, “Each year farmers spend over €500m on diesel fuel, electricity and other energy. Minister White and the CER must deliver on their responsibility to improve the competitiveness of the energy sector.”