Irish Energy Regulator: Gas Prices To Fall 10.6% From Oct 1
DUBLIN (Dow Jones)--Ireland's Commission for Energy Regulation said Monday that gas prices will fall 10.6% from Oct. 1.
The commission already cut gas prices this year, by 10% from Feb. 1.
The commission said the decision was driven by the fall in wholesale gas prices during 2007 and a significant reduction in gas network costs after a review of the Gas Board's revenues.
Economists say this year's price reductions - the latest of which is aimed to cut gas bills by EUR100 a year for an average user in a three-bedroom house - will help ease inflation, which hit 5.0% in July.
-By Quentin Fottrell, Dow Jones Newswires; +353-1-6762189; quentin.fottrell®dowjones.com
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