SEAI report confirms improved electricity and gas price position for Ireland in Europe
Media Release
1st December 2010
A report published today (1st December) by the Sustainable Energy Authority of Ireland (SEAI) highlights the continued fall in electricity and gas prices over the last year as Ireland strengthens its competitive position vis-à-vis energy pricing across the European Union.
The latest Electricity and Gas Prices (in Ireland) Report shows that in the year to June 2010, businesses and householders benefited from falling energy prices. Householders experienced a large fall in electricity prices of 12% bringing prices in line with the EU average, and a fall of between 20%-35% was witnessed by medium to large businesses, compared with the EU average of 4%, the largest drop in the EU. Domestic gas prices also fell by 23% and SME’s experienced a drop bringing them between 7%-18% beneath the EU average.
Commenting on the publication of the report, Professor Owen Lewis, CEO of SEAI said: “Despite misconceptions that Ireland’s energy prices are out of line with the rest of Europe, we have witnessed a steady trend towards lower energy prices for most users in recent years. It is encouraging to see that Ireland is now at or below the average in terms of energy pricing across the EU. Given current economic challenges facing Ireland, the fall in energy prices is very good news for businesses, for whom competitiveness remains a key issue. Over half of the electricity sold to Ireland’s business customers in the first six months of the year was below the EU average signalling the success of a more open energy trading market.”
He concluded: “While the latest fall is good news for both business and consumers, it is also an opportunity to ensure we harness the renewable potential that is being developed on the grid and further reduce our dependence on fossil fuels at a time when it is achievable to do so.”
Please click here to download The Electricity and Gas Prices (in Ireland) Report.pdf
ENDS
About SEAI:
The Sustainable Energy Authority of Ireland (SEAI) has a mission to play a leading role in transforming Ireland into a society based on sustainable energy structures, technologies and practices. The Authority is financed by Ireland’s EU Structural Funds Programme co-funded by the Irish Government and the European Union.
Please click here to downlad a copy of this press release in PDF format.
