Wholesale electricity prices were down over 23% prior to Iran war, CSO says

Brent crude oil rose above $113 (€97.52) a barrel, up for a fifth day, while West Texas Intermediate was near $100

During February, electricity prices were down 72.1% from their previous highs of August 2022 when the invasion of Ukraine by Russia sent oil and gas prices soaring.

Wholesale electricity prices were down 23.3% in February, compared to the same period last year, right before the US and Israel launched an attack on Iran which already caused energy prices to increase significantly, new data from the Central Statistics Office (CSO) shows.

Electricity prices are down 72.1% from their previous highs of August 2022 when the invasion of Ukraine by Russia sent oil and gas prices soaring.