Industry figures predicted that Irish electricity prices will rise “40 to 50 per cent”, while gas customers could face a doubling in their bills as the volatility continued through the day.
He believes that the volatility will continue until Europe increases imports of liquid natural gas , allowing it “to turn off the tap” on Russian supplies. “Then the price will drop back down,” he said. Its prices reached between £4.50 and £5 late last year before slipping back to more than £2. Before Covid gas sold for between 40 pence and 60 pence a therm.Two sources predicted that natural gas rationing, initially hitting industries, could result if the EU included energy in sanctions against Russia. While governments have stopped short of this, one argued that voters could pressure them to do so.
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IrishTimes rip off prices will put any sitting Gov out come the next election.
Open the fossil fuels plants, they were doing less damage