Energy costs are likely to fall next year, the Joint Oireachtas Committee on Communications, Energy and Natural Resources heard today.
The ESB's CEO Padraig McManus told the committee that reductions in the worldwide price of oil and other fossil fuels should lead to energy prices coming down next year.
Mr McManus also confirmed that the ESB will be passing on a 1% decrease in charges to its customers in January 2009.
During the course of the meeting, the ESB also outlined its plan to be carbon neutral by 2035, which is ahead of the EU wide target of 2050. It also explained its goal of sourcing 33% of its overall production from renewable energy sources by 2020.
