Ireland’s limited ability to diversify away from gas-fired generation reduces the scope for wholesale price reductions, the committee has heard. Photograph: iStockThe reason for Ireland’s high electricity prices is “difficult to establish”, the Economic and Social Research Institute (ESRI) has said. Citing Eurostat data, the ESRI said Irish electricity prices have fallen in the last two years, from their 2023 peak, but the decline has been less than in many other European countries. [ Wholesale electricity prices down 18.5% but consumers still facing high billsOpens in new window ]“Possible explanations include fewer risk-mitigation options and weaker competition in the Irish market. He identified “reliance on imported fossil fuels, particularly gas, for electricity generation,” as a driver of higher energy costs.

Source: The Irish Times December 11, 2025 09:04 UTC