Wholesale electricity prices jump almost 77% in one year

WHOLESALE ELECTRICITY PRICES have jumped by almost 77% in one year, new data from the Central Statistics Office (CSO) revealed.

Electricity prices climbed 9.6% on a monthly basis in August and were 76.9% above August 2025 levels.

Wholesale electricity prices are what generators charge suppliers on the open market, while household prices are the total retail costs billed to customers.

Much of Ireland’s wholesale electricity comes from imported natural gas.

While household electricity prices are yet to see the effects of the spike, bills are set to increase by around €41.25 a year from October to facilitate an upgrade to the electricity grid.

Meanwhile, as a result of the war in the Middle East, fuel costs including petrol and diesel have increased monthly by 11% in the same period, marking an annual rise of 34.5%.