Understanding the factors that affect energy prices is important for Ireland. It helps businesses, householders and policymakers to respond appropriately.

Measuring energy prices

Ireland has committed to developing metrics of energy cost competitiveness as outlined in the Government's White Paper on Ireland's Transition to a Low Carbon Energy Future 2015-2030. We have developed average electricity and gas prices for business and households. These are based on the EU Electricity and Gas Price Regulation statistics.

The graphs and tables below show the average prices to business across all consumption bands in the Euro Area and the EU-28. They also show the weighted average across all bands in Ireland. Note that the weighted average is not fully comparable with the normal average.

Average electricity price to business

 Ireland Weighted AverageEU28 Average Euro Area Average
S1 2014 13.89 12.43 13.15
S2 2014 13.60 12.34 13.00
S1 2015 14.00 12.40 12.91
S2 2015 13.58 12.24 12.68
S1 2016 12.97 11.72 12.23
S2 2016 12.53 11.57 12.14
S1 2017 12.37 11.67 12.24
S2 2017 12.61 11.39 11.84
S1 201813.3911.5511.88
Source: SEAI based on Eurostat data

The price of electricity to business consumers in Ireland has been above the EU and Euro Area since 2011. In the first half of 2018 the weighted average price in Ireland increased by 6.2% and it was 16% and 13% above the EU and Euro Area respectively.

Average gas price to business

 Ireland Weighted AverageEU28 Average Euro Area Average
S1 2014 4.07 4.03 4.16
S2 2014 4.01 3.92 4.03
S1 2015 3.85 3.82 3.90
S2 2015 3.68 3.68 3.74
S1 2016 3.36 3.28 3.39
S2 2016 3.48 3.19 3.34
S1 2017 3.29 3.15 3.29
S2 2017 3.28 3.03 3.16
S1 20183.373.243.38
Source: SEAI based on Eurostat data

The price of gas to business consumers in Ireland was below both the EU and Euro Area between S2 2009 and S2 2013.

Since then it has been above the EU average. From S1 2014 until S1 2016 it was below the Euro Area average. In the firest half of 2018 the weighted average price in Ireland increased by 2.75 and it was 4.1% above the EU average and 0.4% below the Euro Area average. 

Average electricity price to households

 Ireland Weighted AverageEU28 Average Euro Area Average
S1 2014 22.97 22.35 24.25
S2 2014 24.38 22.75 24.69
S1 2015 23.00 22.99 24.82
S2 2015 23.60 23.19 24.92
S1 2016 22.09 22.80 24.78
S2 2016 22.64 22.92 24.92
S1 2017 21.65 22.87 25.08
S2 2017 22.94 22.71 24.56
S1 201821.8423.1725.30
Source: SEAI based on Eurostat data

The price of electricity to household consumers in Ireland was below both the EU and Euro Area between S2 2009 and S2 2011. It was then above the EU average until the second half of 2015. In the first half of 2018 the average price in Ireland fell by 4.8% and it was 5.7% below the EU average and 13.7 below the Euro Area.

Average gas price to business

 Ireland Weighted AverageEU28 Average Euro Area Average
S1 2014 6.84 7.46 8.30
S2 2014 7.53 8.12 9.01
S1 2015 6.77 7.39 8.03
S2 2015 7.33 8.04 8.81
S1 2016 6.56 7.02 7.79
S2 2016 6.86 7.34 8.34
S1 2017 6.37 6.61 7.51
S2 2017 6.57 7.24 8.35
S1 20186.366.737.68
Source: SEAI based on Eurostat data

The price of gas to household consumers in Ireland was below both the EU and Euro Area over the whole period. The only exception is S2 2009. In the first half of 2018 the average price in Ireland fell by 3.3% and it was 5.5% and 17.2% below the EU and Euro Area respectively.