'Clear lag' between wholesale energy prices and those charged to consumers, CRU says 

CRU emphasised that a return to retail prices similar to those in 2021 is "not expected" in the near term

most recent data from EU statistics agency, Eurostat, shows that domestic electricity prices in Ireland were the 9th most expensive across all of Europe, while Irish domestic gas prices were the 5th most expensive in Europe.

A report from the Commission for Regulation of Utilities (CRU) has shown a "clear time lag" between when changes in wholesale gas prices happen and when those changes reach retail prices charged to consumers.

Looking at when wholesale gas prices were at their highest between the second half of 2022 and the beginning of 2023, the CRU found that much of the current energy being consumed in Ireland was purchased at a time when wholesale prices were higher than they have been in recent months.