Winter electricity prices forecast to tumble by 2027 thanks to offshore wind

The report highlights the important role that a handful of offshore wind projects, planned by 2030 in the Irish Sea from Louth to Cork, will play in driving winter prices lower.  

Cathal Ryan at Cornwall Insight Ireland said the report was very positive and showed the way that offshore wind could determine prices. 

The all-Ireland electricity will hit the target of generating 80% of its power from renewables thanks to offshore wind by 2030, and winter electricity costs will tumble as early as 2027. 

The assessment comes from leading energy consultancy Cornwall Insight Ireland and pierces the gloom over energy bills and the cost-of-living crisis sparked by the Russian invasion of Ukraine.