Irish consumers are set to see further increases in their energy bills after Russian President Vladimir Putin threatened to cut off gas supplies to Europe.
Putin made the announcement on Thursday demanding that Russia be paid in roubles for its gas, or he would cut off supplies. The threat has caused wholesale prices on the international market to rise even further as Russia supplies almost a third of Europe's gas.
If a decision is made to halt gas supplies, Irish consumers will see a huge increase in their bills. The news comes after experts warned that electricity customers could end up paying 50 per cent more for power at peak times.
