asked the Minister for Energy the proposals he has made for the reduction of energy prices by semi-State bodies under his auspices.
Written Answers. - Energy Prices.
132.
One of my priorities is to ensure that every opportunity is taken by the semi-State bodies under my aegis to keep prices as low as possible.
Electricity prices are being reduced by approximately 5 per cent across the board with effect from the March-April and April-May consumption periods. This reduction is on top of a reduction of 3 per cent in domestic charges and 7.3 per cent in industrial-commercial charges announced in early 1987.
Since INPC acquired the Whitegate Oil Refinery in 1982, there has been a significant reduction in prices. While this is substantially due to the fall in crude oil prices, the management and workforce of the refinery must also be credited with achieving economies which have contributed to cost minimisation. On average ex-Whitegate product prices dropped by over 40 per cent in 1986 as compared with 1985, followed by a further reduction of about 16 per cent in 1987.
Natural gas is currently supplied on attractive competitive terms by BGE, when compared with the cost of alternative oil products and it is intended to maintain this policy. The average price per therm came down by over 20 per cent compared with 1986, which in turn was 15 per cent down on 1985 prices.
Due to the current financial difficulties of Bord na Móna, a reduction in peat prices is not proposed for the present.
In general, the prices charged by the energy semi-State companies have come down in line with decreases in world energy prices over the past number of years. It is my intention to keep prices as low as possible bearing in mind the cost of supplies and by insisting on further improvements in operating efficiencies in the semi-State energy sector.