Wholesale gas prices jump 21%, raising further fears for Irish household heating and lighting bills

At 4pm, prices reached almost €178 per kilowatt per hour for delivery in January and February, while gas for delivery as late as June was trading at €117 per kilowatt - at a time when prices should be falling sharply with the start of summer

Along with the cost of housing, escalating bills for heating and lighting homes this winter have pushed the Irish consumer price index to 5.3% in November. File Picture: PA

Wholesale gas prices continued to flash red on Tuesday, raising fears that Irish household heating and lighting bills will increase deep into the winter.

The price of gas traded on the Dutch futures market - a key European hub that determines the price electricity generators in Ireland and across most of the rest of Europe will pay for their supplies - shot up by a further 21% in the latest session.