The world energy market does not operate as a perfect single unit, but upheaval in one area still knocks on elsewhere. Gas and oilSo far, energy markets are betting on a shorter conflict. Then, gas was in the spotlight as wholesale prices shot up, eventually feeding through to consumer prices. In the background, wholesale gas prices have risen sharply too, which is important as this is the main fuel used to produce Irish electricity. If the increases in wholesale gas prices run into a longer term and serious rises, then, of course, bills will go up.

Source: The Irish Times March 05, 2026 15:30 UTC