Ireland had the highest electricity prices in Europe in 2024.
Research from the ESRI shows our dependence on gas is pushing up our prices.
Drawing on Eurostat data from 2018 to 2024, this ESRI review paper has found our electricity prices tend to follow trends in international natural gas prices
Our exposure to the gas market pushed our residential electricity prices to the highest in Europe in 2024, before taxes, levies and energy credits are taken into account.
Accounting for Government interventions after the outbreak of war in Ukraine, like VAT reductions and multiple rounds of energy credits, our prices dropped to the eighth most expensive in Europe in 2024.
It also notes the Commission for the Regulation of Utilities predicts annual household bills may rise by between 59 and 106 euro by 2029 or 2030.
