Latest ESB increase will add ¼ percent to inflation rate – Kevin Callan

Another blow for Competitiveness

Drogheda North Fine Gael Representative, Kevin Callan has said the 17.5% increase in ESB prices which has been sanctioned by the Energy Regulator will add a further quarter of a percent to the rate of inflation."This will make it even more difficult for the Social Partners to agree to pay restraint and is terrible news for Irish competitiveness."Electricity costs in Ireland are already among the highest in Europe for domestic and business customers and the Regulator, instead of sanctioning this massive increase, should be pressing the ESB to improve internal efficiencies, as has been previously recommended by a Deloitte Review."It's unrealistic to expect the Regulator to sanction no electricity price increase this year, due to dramatic fuel price inflation, but an interim increase of nearly 20% is an enormous increase for hard pressed consumers and businesses to live with."I will be asking the Regulator to make a detailed report available to the our local oireachtas members, justifying this latest electricity price hike and to outline what he is doing to drive efficiencies within the ESB to ensure that electricity is being produced as cost effectively as possible."

Contact Kevin directly on: 087 777 6648