Energy-price increases here due to Russia-Ukraine row ‘wholly unjustifiable’

The ESB and Viridian would be “wholly unjustified" in seeking price increases later this year following the bust-up between Russia and Ukraine over gas supplies, according to a leading Irish energy analyst.

7th January, 2006

The ESB and Viridian would be “wholly unjustified" in seeking price increases later this year following the bust-up between Russia and Ukraine over gas supplies, according to a leading Irish energy analyst.

Neil McMahon, energy analyst at Bernstein Research in London, said the Ukrainian impact on spot gas markets was a “knee-jerk reaction'‘ and should not, on its own, lead to higher gas prices this year.

Gas prices temporarily spiked last week...

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