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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Centrica plc    CNA   GB00B033F229


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Centrica : 10 Sep 2020 Bord Gáis Energy guarantees no price increases ahead of winter Investor

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09/09/2020 | 07:40am EDT
10 September 2020 Bord Gáis Energy guarantees no price increases ahead of winter

Company will absorb increases in gas and electricity network and system costs as country faces into most challenging winter

Bord Gáis Energy Managing Director, Dave Kirwan, today announced a price freeze for the company's over 625,000 residential customers. Speaking today, Mr. Kirwan said: 'As the country faces its most challenging winter in a lifetime, Bord Gáis Energy will freeze its residential gas and electricity prices despite the increased network and system costs announced recently by the CRU. We will absorb these additional costs, which are outside of our control, and are guaranteeing no price increases for residential customers until at least March 2021.'

As the helpful energy company, we've always committed to pass on savings where we can. This has been demonstrated by two price reductions for dual fuel customers in the last 12 months. In October 2019, we were the only energy provider to reduce prices before the winter period and we also reduced prices in May of this year. Combined, these two price reductions saved dual fuel customers an average of €97.53 per annum.

Network and system costs now account for approximately 40% of a customer's energy bill. We know this is a tough time for customers and that's why we have committed to absorb these additional costs ahead of the winter period.

We're focused on providing innovative services, offering value and providing unmissable rewards for existing customers. We offer the best in market price plan for our long-term customers. Since the COVID pandemic arrived in Ireland earlier this year, Bord Gáis Energy has implemented a range of measures to help customers, and today's announcement is one more step in supporting our customers.

Bord Gáis Energy continues to invest in sustainable business practices and solutions for both residential and business customers and recently announced a range of initiatives including EV chargers, Demand Side Management, and the HIVE range of smart energy devices.

  • Naomi Steen, PR Manager, Bord Gáis Energy

    T: 086 701 5226

  • Claire Smith, Communications Manager, Bord Gáis Energy

    T: 086 027 9075


Notes to editor

  • The Public Service Obligation Levy is a government subsidy. The Commission for Regulation of Utilities has announced an increased in PSO of 129% for households effective from 1 October 2020.

About Bord Gáis Energy:

Established in 1976, Bord Gáis Energyis an energy supply and services company with a strong Irish heritage. In 2014 the company became part of Centrica plc, a leading international energy services and solutions provider that is founded on a 200-year heritage of serving people. Bord Gáis Energy supplies energy and services to hundreds of thousands of homes and businesses in the Republic of Ireland. We are focused on satisfying the changing needs of our customers, enabling them to transition to a lower carbon future.

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Centrica plc published this content on 10 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 September 2020 10:39:02 UTC

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