Wholesale energy prices still falling

Irish companies could see further reductions in their energy costs this year with the likelihood of wholesale prices continuing to drop.

Latest data from leading independent energy supplier Vayu shows wholesale gas prices dropped by 4%, year-on-year, during March, with electricity prices down by 14%.

Increased natural gas shipments and strong supply from the North Sea have driven the declines, while the weakening in the value of the euro has had a significant impact on Irish gas prices.