Germany, Belgium, and Ireland had some of the highest household electricity prices worldwide, as of June 2024. At the time, German households were charged around 0.39 U.S. dollars per kilowatt-hour, while in Belgium, the price stood at 0.37 U.S. dollars per kilowatt-hour. By comparison, in Qatar, residents paid more than 10 times less. What is behind electricity prices? Electricity prices vary widely across the world and sometimes even within a country itself, depending on factors like infrastructure, geography, and politically determined taxes and levies. For example, in Denmark, Belgium, and Sweden, taxes constitute a significant portion of residential end-user electricity prices. Reliance on fossil fuel imports Meanwhile, thanks to their great crude oil and natural gas production output, countries like Iran, Qatar, and Russia enjoy some of the cheapest electricity prices in the world. Here, the average household pays less than 0.1 U.S. dollars per kilowatt-hour. In contrast, countries heavily reliant on fossil fuel imports for electricity generation are more vulnerable to market price fluctuations. The top importers of natural gas in Europe in 2023 were Germany and Italy, where this energy source constitutes a relevant share of the power mix.

The average wholesale electricity price in Ireland amounted to 123.59 euros per megawatt-hour in October 2024. During the period in consideration, figures reached a record high in March 2022, at over 293 euros per megawatt-hour. This was an increase of more than 302 percent compared to the same month a year prior.

IE: Electricity Price: NH: Total kWh: excl Taxes & Levies data was reported at 0.229 EUR/kWh in Jun 2024. This records a decrease from the previous number of 0.249 EUR/kWh for Dec 2023. IE: Electricity Price: NH: Total kWh: excl Taxes & Levies data is updated semiannually, averaging 0.229 EUR/kWh from Dec 2020 (Median) to Jun 2024, with 7 observations. The data reached an all-time high of 0.282 EUR/kWh in Jun 2023 and a record low of 0.117 EUR/kWh in Dec 2020. IE: Electricity Price: NH: Total kWh: excl Taxes & Levies data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Ireland – Table IE.Eurostat: Electricity Price: Non-Household Consumers.

The inflation rates of energy commodity prices in Ireland increased significantly in 2022. Liquid fuels saw the steepest rise, with the inflation rate standing at 126.6 percent in March 2022. Gas also saw an increase during late 2022, with inflation reaching its peak in October 2022 at 93.4 percent. These increases in inflation were driven by Russia's invasion of Ukraine, which has caused uncertainty over Europe's security of gas supply, as well as intense energy price volatility. By the middle of 2024, however, the energy commodity prices had decreased compared to the previous year.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Ireland (CPGRLE01IEQ657N) from Q1 1976 to Q3 2023 about Ireland, core, all items, CPI, inflation, price index, indexes, and price.

Ireland IE: Electricity Price: NH: Between 20 & 499 MwH: excl Taxes & Levies data was reported at 0.303 EUR/MWh in Jun 2024. This records a decrease from the previous number of 0.317 EUR/MWh for Dec 2023. Ireland IE: Electricity Price: NH: Between 20 & 499 MwH: excl Taxes & Levies data is updated semiannually, averaging 0.151 EUR/MWh from Dec 2007 (Median) to Jun 2024, with 34 observations. The data reached an all-time high of 0.369 EUR/MWh in Jun 2023 and a record low of 0.130 EUR/MWh in Jun 2011. Ireland IE: Electricity Price: NH: Between 20 & 499 MwH: excl Taxes & Levies data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Ireland – Table IE.Eurostat: Electricity Price: Non-Household Consumers.

Graph and download economic data for Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Water Supply and Miscellaneous Services Relating to the Dwelling: Total for Ireland (IRLCP040400GPM) from Feb 2003 to Nov 2023 about Ireland, water, miscellaneous, fuels, supplies, electricity, gas, services, CPI, price index, indexes, and price.

Graph and download economic data for Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Actual Rentals for Housing: Total for Ireland (IRLCP040100GPM) from Dec 1989 to Nov 2023 about Ireland, water, fuels, electricity, rent, gas, CPI, price index, indexes, and price.

Wholesale electricity prices in the European Union (EU) increased in 2024 after recovering from the global energy crisis in 2023. This was the result of a myriad of factors, including increased demand in the “post-pandemic” economic recovery, a rise in natural gas and coal prices, and a decline in renewable power generation due to low wind speeds and drought. Nuclear power's critical role In 2023, nuclear and wind were among the leading sources of electricity generation in the EU, accounting for more than one-third of the output. Nuclear energy continues to play a crucial role in the European Union's electricity mix, generating approximately 619 terawatt-hours in 2023, which accounted for about 20 percent of the region's power production. However, the future of nuclear power in Europe is uncertain, with some countries like Germany phasing out their nuclear plants while others maintain their reliance on this energy source. The varied approaches to nuclear power across EU member states contribute to the differences in electricity prices and supply stability throughout the region.

Renewable energy's growing impact As Europe strives to decarbonize its energy sector, renewable sources are gaining prominence. Wind power in Europe, in particular, has seen significant growth, with installed capacity in Europe reaching 257.1 gigawatt hours in 2023. This expansion of renewable energy infrastructure is gradually reshaping the electricity market, potentially leading to more stable prices in the long term. However, the intermittent nature of some renewable sources, such as wind and solar, can still contribute to price fluctuations, especially during periods of low output.

Graph and download economic data for Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Ireland (IRLCP040500GPQ) from Q2 2003 to Q3 2023 about Ireland, water, fuels, electricity, gas, CPI, price index, indexes, and price.

After four years of growth, the Irish electricity supply meter market decreased by -13.6% to $28M in 2023. Overall, consumption, however, recorded significant growth. Over the period under review, the market hit record highs at $33M in 2022, and then reduced in the following year.

Ireland IE: Electricity Price: HC: Between 5000 & 14999 KwH: incl All Taxes & Levies data was reported at 0.332 EUR/kWh in Jun 2024. This records a decrease from the previous number of 0.376 EUR/kWh for Dec 2023. Ireland IE: Electricity Price: HC: Between 5000 & 14999 KwH: incl All Taxes & Levies data is updated semiannually, averaging 0.203 EUR/kWh from Dec 2007 (Median) to Jun 2024, with 34 observations. The data reached an all-time high of 0.376 EUR/kWh in Dec 2023 and a record low of 0.157 EUR/kWh in Jun 2008. Ireland IE: Electricity Price: HC: Between 5000 & 14999 KwH: incl All Taxes & Levies data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Ireland – Table IE.Eurostat: Electricity Price: Household Consumers.

In 2023, purchases abroad of electricity supply or production meters decreased by -12.7% to 148K units, falling for the second consecutive year after two years of growth.

Graph and download economic data for Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Ireland (IRLCP040000GPM) from Dec 1982 to Nov 2023 about Ireland, water, fuels, electricity, gas, CPI, price index, indexes, and price.

Price for Liquefied Petroleum Gas (LPG) in Ireland - 2023. Find the latest marketing data on the IndexBox platform.

Ireland IE: Electricity Price: HC: Between 1000 & 2499 KwH: excl VAT & Other Recoverable Taxes & Levies data was reported at 0.402 EUR/kWh in Jun 2024. This records an increase from the previous number of 0.335 EUR/kWh for Dec 2023. Ireland IE: Electricity Price: HC: Between 1000 & 2499 KwH: excl VAT & Other Recoverable Taxes & Levies data is updated semiannually, averaging 0.263 EUR/kWh from Dec 2007 (Median) to Jun 2024, with 34 observations. The data reached an all-time high of 0.402 EUR/kWh in Jun 2024 and a record low of 0.176 EUR/kWh in Jun 2023. Ireland IE: Electricity Price: HC: Between 1000 & 2499 KwH: excl VAT & Other Recoverable Taxes & Levies data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s Ireland – Table IE.Eurostat: Electricity Price: Household Consumers.

From 2007 to 2022, the average annual domestic electricity bill by direct payment in Northern Ireland oscillated. In 2023, the electricity bills in Northern Ireland increased by over 14.8 percent in comparison to the previous and peaked at 836 British pounds.

Graph and download economic data for Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Maintenance and Repairs of the Dwellings: Total for Ireland (IRLCP040300GPM) from Dec 1989 to Nov 2023 about repair, Ireland, maintenance, water, fuels, electricity, gas, CPI, price index, indexes, and price.

The Irish gas and smoke analyser market declined remarkably to $36M in 2023, with a decrease of -36.4% against the previous year. In general, consumption saw a buoyant expansion. Gas and smoke analyser consumption peaked at $93M in 2019; however, from 2020 to 2023, consumption failed to regain momentum.

In 2023, air or gas liquefier imports into Ireland shrank to 319 units, reducing by -9.9% compared with 2022 figures.