Gas prices for domestic users and small businesses will not change next year, following a decision this afternoon by the Commission for Energy Regulation.
The CER also decided to marginally reduce the average cost of electricity from January for the same users, by less than 1%.
The CER said it was able to leave gas prices unchanged because Bord Gáis decided to pass a rebate of €8.5 million onto its customers.
The slight reduction in electricity prices was possible, it said, because of a rebate of €300 million announced by the ESB last July.
The CER also said that the sale of some ESB power stations would contribute to the slight drop.
The CER warned that some users, who use more than the average amount of electricity, might see their bills rise by up to 2%, while those who use less than the average could see their bills fall by up to 2%. The CER said it also factored the recent drop in the price of energy on wholesale markets into both decisions.
Bord Gáis had been seeking an average price increase of 3.9%, while the ESB had been seeking a rise of 5.6%. Today's changes take effect from 1 January.
The next review of prices is not due until October next year. However, the CER has not ruled out having an interim review before then, if the price of energy continues to fall on wholesale international markets.
