Homes face the prospect of higher electricity and natural gas bills if the war in Iran does not end in weeks, industry figures said at the weekend. Energy industry sources say that although natural gas prices surged immediately when Russia invaded Ukraine in February 2022, it took several months to see the impact on energy bills. Natural gas prices ultimately determine what consumers pay for electricity, says Lynott, whose organisation represents suppliers including the ESB, Bord Gáis Energy, SSE Airtricity and others. Although this country does not have its own LNG terminal or natural gas storage, it benefits from this approach, Lynott said. He said the Republic also needs to build natural gas storage to help secure energy supplies.

Source: The Irish Times April 07, 2026 10:01 UTC