Bord Gáis Energy has applied for a rise of more then 7.5% in residential gas prices.

The Commission for Energy Regulation says it is considering the request and will decide in late August.

Bord Gáis indicated it asked the increase due to higher gas commodity costs and network tariffs.

Gas costs have risen because the value of the Euro has decreased considerably against Sterling over the last year.

The CER says if the increase is granted it would be with regret given the current difficult economic climate.

Dermot Nolan is chairman with the Commission.

He admits it is a big increase.