Paul Stapleton, CFO of the ESB, remarked that decreasing wholesale gas prices are favorable for consumers and may lead to reduced retail energy costs over time. Electric Ireland, a subsidiary of ESB, has already implemented significant price cuts for electricity and gas, resulting in substantial savings for its customers. However, SSE Airtricity is set to increase its prices due to higher network charges and wholesale costs. Despite market fluctuations influenced by geopolitical factors, Stapleton stated there are currently no plans to raise prices for Electric Ireland customers.
Paul Stapleton emphasized that the recent fall in wholesale gas prices is beneficial for customers and retail prices, with potential to improve consumer energy costs.
Electric Ireland has decreased electricity and gas prices by 19.3% and 20.4% respectively, providing significant annual savings for average customers.
Despite SSE Airtricity's planned price hike due to increased costs, Mr Stapleton reassured that there are currently no plans to raise Electric Ireland prices.
The decline in wholesale gas prices, attributed to supply-demand dynamics and geopolitical events, represents a positive trend that could continue if conditions remain favorable.
Collection
[
|
...
]