Wholesale electricity prices up more than a fifth in May

In the 12 months to May the cost of food products, beverages, and tobacco was down 5.7%

Electricity prices are still over 70% lower than their peak in August 2022. 

Wholesale electricity prices increased by over 20% in May compared to the previous month as the producer prices for food products dropped slightly, new data from the Central Statistics Office (CSO) shows.

According to the wholesale price index, electricity prices in May increased by 21.7% compared to April and are now 2.4% higher when compared to May in 2023. While electricity prices have gone up, they are down over 70% when compared with the peak that occurred in August 2022.