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Bord Gais denies it ‘profited from the Ukraine war’

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TOP energy supplier Bord Gais has denied it profited from the war in Ukraine.

comes after the company announced an increase in standing fees as well as an increase in electricity and gas unit costs for domestic customers.

Consumers Association President Michael Kilcoyne questioned why the standing charges were going up and accused Bord Gais Energy of “trying to cash in on the Ukraine war by increasing standing charges for both fuels.” “.

Mr Kilcoyne also called for an investigation into Bord Gais Energy’s decision to impose standing charges by the company, accusing the British-owned company of price manipulation.

But Bord Gais Energy hit back, saying that the allegation that it is profiting from the war in Ukraine “is baseless and disrespectful and Bord Gais Energy categorically denies it”.

“The accusations made by Michael Kilcoyne of the Irish Consumer Association are untrue, offensive to the company and employees, and disrespectful of the tragic circumstances and loss of life in Ukraine.

“Bord Gais Energy will write to Mr. Kilcoyne asking him to retract his comment.”

Earlier this week, the company announced that it would raise unit electricity prices to 27pc and gas prices to 39pc from next month, sending wholesale gas prices in the international market to a record high.

But then it emerged, it was also increasing flat fees on electricity and gas customers by the same amount.

The electricity flat fee for Bord Gais customers will now be close to €300 a year when the latest price hike comes into effect next month.

The new permanent fee for gas will be €177 a year.

It has about 350,000 residential electricity customers and about 300,000 gas customers.

Bord Gais said the increase announced this week was regrettable, but that the standing charge was still significantly below the increase in global energy costs over the past 12 months.

“In this volatile market, wholesale energy costs have increased significantly, which has impacted both standing charges and unit prices. It has absolutely nothing to do with the war in Ukraine.”

It said it had set up a €1.2 million energy aid fund to help customers who have difficulty managing their bills.

The Commission on the Regulation of Utilities (CRU) says providers do not have to submit or seek approval for a standing fee increase.

https://www.independent.ie/business/personal-finance/bord-gais-denies-it-is-profiting-from-ukrainian-war-41458768.html Bord Gais denies it ‘profited from the Ukraine war’

Fry Electronics Team

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