Bord Gáis has warned households and business of higher energy costs during the peak demand autumn and winter months ahead.
The company says consumers can expect higher electricity costs because natural gas, a key raw material in producing electricity, is set to become more expensive.
Bord Gáis issued its warning this morning in a routine monthly report on wholesale fuel prices on international markets.
It finds that the wholesale price of oil, coal and electricity fell in May from a 31-month high thanks to a global sell-off in commodities associated with fears about the health of the US economy.
But Bord Gáis says the price of natural gas, a key raw material in the production of electricity for homes and businesses, is set to increase in the autumn. This is because natural gas prices are based on oil prices from six months earlier.
With oil prices at over $100 a barrel in the first six months of the year, that effect could filter through to billing charges for electricity in October.
Any increase in domestic fuel from towards the end of the year will exacerbate pressure on households already facing water charges and a possible property tax.
