Eirgrid boss expects electricity price dip

FALLING wholesale electricity prices should result in lower prices to the consumers and businesses, Eirgrid chief executive Dermot Byrne said yesterday.

Mr Byrne said that while his business does not set the going rate of electricity, it had a key role in ensuring the effectiveness of the transmission system.

Making the case for lower prices down the line, he said wholesale prices have fallen dramatically. Falling demand is resulting in lower gas and coal prices, key drivers of the cost of electricity.