Plunging electricity prices signal lower bills, CSO figures suggest

Cornwall Insight last week suggested that Irish power prices are set to fall this year and into 2025.

Factory gate electricity prices plunged, signalling lower household and business bills for consumers, Central Statistics Office (CSO) figures suggest.

Wholesale electricity prices tumbled 40% in March compared to a year earlier and declined 70% compared to the same month in 2022, which was shortly after Russia invaded Ukraine and destabilised the energy market and sent energy prices soaring to reach their peak in August 2022.