Irish electricity and gas users will see little benefit from the 31% fall in oil prices this winter, sources have told RTE News.
Long-term contracts entered into by energy companies and problems with gas supplies mean prices will remain high. The ESB increased prices by 17.5% on August 1 and gas costs rose by 20% at the beginning of the month.
Gas and oil prices usually move in tandem, but pipeline problems have kept gas prices high this winter. ESB and Bord Gáis booked most fuel requirements at fixed prices for the peak winter period in the summer.
On top of recent increases, prices will be reviewed in November with a price rises expected in January.
