According to energy broker and adviser Green Procurement Ireland, wholesale electricity prices averaged 16.22 cent a kilowatt hour – the unit in which it is sold to households – in January. Network and other charges added eight to 12 cent, bringing the total to a maximum of about 28 cent.
They show that electricity was at its most expensive in August, when the average day-ahead contract was 38.76 cent KW/h.That slipped to 13.6 cent in October before climbing back to 26.67 cent in December when the Republic’s peak demand hit a new record of 5,544 mega watt hours. Prices have eased steadily since then.
Mr Ryan stressed that the Government would continue monitoring energy supply companies and facilitating price cuts to match wholesale rates in any way it could. Reacting to news that energy suppliers ESB-owned Electric Ireland, Bord Gáis and Energia were charging multinationals as little as 6 to 13 cent a KW/h between last year and in 2021, while Irish companies paid 18 to 40 cent, the Minister agreed that energy should be affordable to both industries and homes.Mr Ryan was speaking after addressing the Wind Energy Ireland annual conference.
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