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Airtricity latest to hike power prices

Friday, September 14 17:34:06

Airtricity's 370,000 electricity and 110,000 gas customers will see price rises in the bills from October 15, the utility company said today.

It said that electricity prices will rise by 4.7pc and gas by 8.5pc.

However, customers on pre-payment meters will not be affected.

Bord Gais and Electric Ireland both recently announced similar increases from October 1.

Airtricity said that sustained and considerable increases in the costs of using the gas and electricity transmission and distribution networks regulated by the Commission for Energy Regulation, as well as the continued weakening of euro against sterling, have resulted in upward pressure on energy prices.

"We sincerely regret having to increase our prices at this time. In difficult economic conditions, increasing prices is one of the hardest decisions any business has to take," according to the company's managing director Stephen Wheeler.

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