Press release

ESB Prices Announcement

6th August 2009: ESB is not seeking any price increase from next October for domestic electricity customers and is proposing a price reduction of up to 6% for large business customers. This means that cumulatively in 2009, ESB has reduced prices or offset price increases by over 20%.

These latest price proposals, which apply for the 12 months from 1st October 2009, are set out in ESB Customer Supply's pricing submission to the Commission for Energy Regulation (CER).

ESB has provided over €500m of support to help stabilise electricity prices for all electricity customers in 2009, irrespective of their supplier.

This support took the form of a special subsidy and other financial measures effective January 2009 which reduced by 12.5% the impact of 2008 international fuel price increases. In addition, in May 2009 a 10% price reduction was implemented by ESB, for all electricity users. This 10% cut brought forward the benefit of falling international fuel prices ahead of the annual price determination which is now taking place. This early reduction was made possible by the deferral of revenues due to ESB (Networks).

ESB is determined to minimise the impact of energy costs on industry, business and individual households as is evidenced by these supports to the market.

ESB Customer Supply proposals are published today (Thursday, 6th August) by the CER and will be subject to public consultation before the CER makes a final determination at the end of August.

Ends

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Maol Muire Tynan
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