Vol. 493 No. 3
169 Mr. Haughey asked the Minister for Public Enterprise if she has received an application from the ESB to increase electricity prices; if so, her intentions in this regard; and if she will make a statement on the matter. [16065/98]
The previous Government, early in 1996 as part of the CCR, approved electricity price increases of an average of 2 per cent in 1996, 1.5 per cent in 1997 and 3 per cent in 1998. The first two phases have been implemented. These price increases were presented as a recommendation in the CCR Agreement.
They were accepted by the Government on the basis of certain projections supplied at the time by the ESB which anticipated profits of about £30 million per annum over the period 1996 to 1998. Based on actual results to date, ESB profits over the same period are expected to average over £150 million per annum. When I met the board of ESB on 22 April 1998 the question of a price increase this year was raised and I indicated that it clearly was a matter for consideration and decision by the Government.
