Retail electricity prices in Ireland remain high despite wholesale prices falling 26.6% on the year, writes The Journal on June 22.
Wholesale electricity prices fell 16.2% in April, according to the Central Statistics Office. However, experts believe that it will be necessary “a few more months” for retail consumers to see lower electric bills.
“The bad news is that wholesale electricity prices are still about three times higher than they were in 2020, before the shutdowns caused by COVID-19 and then the war in Ukraine hit energy prices. ”.– quotes the words of the specialist of the Bonkers.ie price comparison site Darag Cassidy.
However, by the end of the year there may be a 10-20% reduction in electricity and gas prices. At the same time, the continuation of the conflict in Ukraine may push prices up again.
Cassidy explained that while prices have come down, few providers have been able to buy power at these new prices. Most bought gas and electricity earlier at high prices up front. Due to coverage, prices may be delayed for several months.
Let’s remember that the increase in energy prices hurt many consumers in Ireland. It should be noted that among the EU countries, Ireland ranks second in terms of energy prices, they are more expensive only in Denmark.
Source: Rossa Primavera
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