Wholesale Electricity Prices Surge 25.6% in a Year, CSO Reveals
Wholesale Electricity Prices Surge 25.6% in a Year, CSO Reveals
By Aaron Joyce | May 22, 2025 | L.T.T Media
The cost of wholesale electricity in Ireland has jumped by a staggering 25.6% over the past year, according to new figures released by the Central Statistics Office (CSO). The increase reflects ongoing volatility in global energy markets, with knock-on effects expected for businesses and consumers alike.
The latest figures form part of the CSO’s monthly Wholesale Price Index, which tracks price movements across various sectors. The sharp rise in electricity costs between April 2024 and April 2025 has raised fresh concerns about energy security, inflation, and the broader economic impact on Irish households.
Supply Pressures and Global Demand
Analysts attribute the surge to a combination of factors, including continued instability in European energy markets, reduced gas supplies, and elevated demand as economies stabilize post-COVID and amid ongoing geopolitical tensions.
“We’re still feeling the aftershocks of the energy crisis that followed Russia’s invasion of Ukraine,” said energy economist Claire FitzGerald. “Even with new LNG infrastructure and renewable integration, the market remains highly sensitive to external shocks.”
Knock-On Effects for Consumers?
While the CSO data reflects wholesale rather than retail prices, experts warn that sustained increases at the supplier level often trickle down to end users over time.
“There’s typically a lag between wholesale price changes and consumer bills, but unless this trend reverses, we can expect higher electricity costs to reappear on monthly statements,” FitzGerald added.
This comes as many Irish households are still grappling with the cost-of-living crisis, with food, fuel, and housing costs all trending upwards in recent months.
A Call for Energy Reform
The figures have reignited calls for deeper energy reform and accelerated investment in renewables.
“It’s another reminder that Ireland must fast-track the shift to homegrown clean energy,” said Green Party TD Roderic O'Gorman. “Reliance on imported fossil fuels leaves us vulnerable — economically and environmentally.”
Ireland has made strides in wind energy, which now accounts for around 40% of electricity generation annually. However, challenges remain in storage, grid infrastructure, and managing peak demand.
Government Response
In response to the CSO report, a spokesperson for the Department of the Environment, Climate and Communications said the government is monitoring market conditions closely and remains committed to protecting vulnerable households through energy credits and targeted supports.
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L.T.T Analysis:
This price hike underscores the urgent need for structural change in how Ireland generates and consumes energy. Without resilience and long-term planning, both households and businesses will remain at the mercy of global volatility.
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