Summary
OF COURSE the price of oil, gas and coal has gone up. And of course that is going to put pressure on the ESB's bottom line. But yesterday's blithe announcement that electricity prices must therefore automatically go up by 20pc is as outrageous as it is arrogant.
The ESB made profits of E432million last year - almost exactly double what they made in 2006. It paid its sole shareholder a healthy E123million dividend. And it has offered to absorb E300million of the price rise - equivalent to another 10pc.See the full content of this document
Extract
Why Is 'Our' Esb Allowed to Rip Us Off?
But the ESB is not a private company, competing with other electricity suppliers in an open market and under pressure to deliver a return to its shareh...
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