Overview
- The ESRI said Tuesday that Irish household electricity ranked eighth priciest in Europe in 2024 after VAT cuts and energy credits, and it would have been the highest without those measures.
- The think-tank linked the high prices to heavy reliance on gas-fired power, which makes Irish bills rise and fall with global natural gas costs.
- Network charges increased in 2022 and 2023 to pay for emergency generation, and upcoming grid spending will add further costs for consumers.
- The Commission for Regulation of Utilities forecasts annual household bills will rise by €59 to €106 by 2029 to 2030 as network tariffs go up.
- Renewables now help blunt price spikes through support schemes, including an €89 PSO credit on bills in 2022 to 2023 when market prices were high.