Edward Timmins
Question:142. Deputy Edward Timmins asked the Minister for Climate, Energy and the Environment to explain the current level and the movement in electricity costs; and if he will make a statement on the matter. [73215/25]
View answerThursday, 18 December 2025
Questions (142, 157)
Mairéad Farrell
Question:157. Deputy Mairéad Farrell asked the Minister for Climate, Energy and the Environment if his attention has been drawn to the gap between retail and wholesale prices of energy in Ireland, which is the highest in the world, and how energy prices have fallen much more slowly in Ireland relative to other EU countries; and if he will make a statement on the matter. [73223/25]
View answerWritten answers
I propose to take Questions Nos. 142 and 157 together.
Regulation of retail energy markets is solely a matter for the Commission for Regulation of Utilities (CRU) since the enactment of the Electricity Regulation Act 1999, and subsequent legislation. The CRU is an independent regulator, accountable to the Oireachtas and not to me as Minister. However, officials from my Department engage with the CRU on an ongoing basis to track developments in retail and wholesale energy markets.
The latest data from Eurostat shows that, in nominal terms, Ireland ranked fifth for electricity prices and eighth for household gas prices among European countries in the first half of 2025. When adjusting for purchasing power parity, Ireland is mid-table in terms of energy affordability with the twelfth highest electricity and gas prices among European countries.
The CRU published a report on retail energy markets in September 2023 in relation to competition and supplier pricing in the energy market. The report was in response to a request by the then Minister for the Environment, Climate and Communications to examine supplier hedging practices and pricing strategies in the Irish energy market. Based on a review of supplier prices and wholesale market costs, the CRU considered that retail prices are broadly continuing to reflect underlying cost drivers, such as wholesale gas and electricity prices, but with a lag period due to supplier hedging strategies.
The CRU also published a report comparing household electricity and gas prices between Ireland and other European countries in 2024. This report outlined that hedging strategies employed by energy suppliers lessened the impact of price increases for households but resulted in elevated retail prices when compared to other European countries.
Under the Programme for Government 2025, we have committed to commissioning an independent review into the speed and level of pass through from wholesale prices to retail prices, with an additional assessment of the overall price dynamics and a focus on the competitiveness of the Irish economy. I have written to the CRU to commence work on this review and my officials have held initial discussions with the regulator in relation to progressing this commitment.
My Department has also established a cross-Government National Energy Affordability Taskforce to identify, assess and implement measures that will enhance energy affordability for households and businesses, while delivering key renewable commitments and protecting security of supply and economic stability.
The taskforce's first report set out measures for consideration as part of the Budget 2026 process. This report has been published on Gov.ie, in advance of further analysis and the publication of the Energy Affordability Action Plan in 2026.
Question No. 143 answered with Question No. 141.