A spokesperson for the Commission for Energy Regulation (CER) has said a final decision on Bord Gáis and ESB price rise applications for next year will be made public on December 1.
Consultations on the original submissions made by both companies will close next Monday. Both companies have indicated that the increases they sought are now unlikely to go ahead.
The CER spokesman said the commission would take into account the recent fall in gas prices on the international wholesale markets, and would not base its decision solely on the original submissions made by both companies, which were made when wholesale costs were significantly higher.
The decision is likely to apply to the whole of 2009, but the CER can review prices in mid-year in exceptional circumstances, if requested. This happened this year, as a result of the rocketing price of energy.
Asked if a decision could be made to reduce, rather than increase the prices, the spokesman indicated that this was unlikely to happen in January. But he also suggested prices could perhaps be reviewed later next year, with a review to a reduction, if gas prices continued to fall heavily in the meantime.
Bord Gáis has applied for a 4.2% increase from January, while the ESB has applied for a 5.8% rise in prices.
