Wholesale electricity prices surge as food and building products fall

Figures suggest electricity price pressures in the system, but factory gate prices overall are easing

Wholesale electricity prices have in the past closely followed the prices of European wholesale gas—the fuel used to generate significant amounts of power on the grid. 

Wholesale energy prices are rising again, but pressures in the system from a wide range of other items from food to building products are easing rapidly, official figures show. 

The price of wholesale electricity in Ireland climbed sharply by 12.5% in October from September, according to the Central Statistics Office, but are still lower than year-earlier levels.