According to the Household Energy Price Index commissioned by the Austrian and Hungarian energy regulators, Ireland’s electricity unit price is nearly double the European average, making it the most expensive among 33 countries surveyed. The cost of electricity has doubled for Irish households in the past two years, and gas prices are also one of the highest in Europe. Although wholesale electricity prices have dropped by over 50% in a year, Irish energy companies have not reduced prices for households. The survey also found that financial supports per capita for households and firms to cope with price hikes are lower in Ireland compared to other European countries. Some suggested reasons for high energy prices in Ireland include our island location, reliance on imported fossil fuels, and dispersed population. Since deregulation of the energy market, Ireland no longer has the most affordable electricity prices in Europe, and some have called for an investigation into why this is the case.
