EU competition law to force higher costs on Irish households

Cash-strapped householders could face higher electricity prices by 2017 due to a redesign of the Irish electricity market.

According to research by the Economic and Social Research Institute (ESRI), the introduction of EU regulations on electricity trading will result in costs and prices becoming less transparent — likely impacting on consumers here.

Currently, the Irish electricity market is dominated by one firm — the ESB, the legacy monopolist. However, its impact on the electricity market here is minimised through regulation and monitoring of the bids of generators.