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Six One News: Martina Fitzgerald reports that the Commission for Energy Regulation is hoping to make more regular price changes
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News At One: Michael Tutty, Commission for Energy Regulation, discusses the reduction which will come into effect on 1 October
The Commission for Energy Regulation has approved a 10.5% reduction in the price of gas.
This represents a reduction of about €100 in the average annual bill.
Bord Gáis had applied to the Energy Regulator, which oversees pricing levels, for a 10% reduction.
This is the second time this year that gas prices have fallen, in February they went down by 10%.
The latest reduction is being driven by a drop in the price of wholesale gas coupled with lower running costs in the gas network.
Today's announcement will be welcomed by consumers who witnessed a 34% increase in gas prices last October.
But they will have to wait until 1 October for the reduction to come into effect.
