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Dublin: 9 °C Tuesday 21 October, 2014

Power surge: Ireland’s electricity prices rise by more than EU average

Ireland’s power prices rose 10 per cent last year – among the highest increases anywhere in the European Union.

Image: Darren Pullman via Shutterstock

IRISH CUSTOMERS were faced with some of the European Union’s highest increases in electricity prices in 2012, new figures have shown.

Data compiled by the EU’s statistics body Eurostat shows that Irish customers faced a 10 per cent increase in electricity prices between the second half of 2011 and the second half of 2012.

Of the other 26 EU countries, only three – Cyprus (21 per cent), Greece (15 per cent) and Italy (11 per cent) – had higher increases in prices.

Electricity prices rose by 6.6 per cent on average throughout the EU, and by 6.1 per cent within the 17 members who use the euro. Prices rose in 22 EU countries, and fell in only three.

Bulgaria has the EU’s cheapest electricity, with an average cost of €9.60 for 100 kilowatt hours, while Denmark has the continent’s highest at €29.70. Ireland’s costs came in at €22.90 per 100 kilowatt hours.

A converse effect was seen in gas, where Ireland’s prices – when adjusted to allow for the purchasing power of various currencies – rose by the fifth-lowest amount within the 27-member bloc.

Gas prices rose by 6.2 per cent in Ireland, below the EU average of 7.2 per cent and the eurozone average of 7.6 per cent.

Romania has the cheapest gas in the EU, at €2.70 for the equivalent of 100 kilowatt hours, while Swedes pay exactly €10 more than that – €12.70 – for the same amount.

Irish customers pay €6.70 per 100 kilowatt hours, the Eurostat data said.

Read: Gas from a dump in Kildare to become electricity for 14,000 houses

More: Bord Gáis says 100,000 customers have agreed repayment plans

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