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Sunday 23 July 2017

Wholesale gas prices down on last year

Wholesale gas prices are 26pc lower on average so far in December compared with December 2014. Photo: PA
Wholesale gas prices are 26pc lower on average so far in December compared with December 2014. Photo: PA
Independent.ie Newsdesk

Independent.ie Newsdesk

Irish wholesale gas prices are 26pc lower on average so far in December compared with December 2014, according to the latest wholesale energy market report published by Vayu Energy.

The company said the year-on-year decrease in prices is due to strong supplies, exceptionally mild weather conditions for December and a positive storage outlook.

Irish wholesale gas prices are now 35pc lower (in euro terms) compared with the average monthly price recorded for December over the previous three years (2012-2014).

Joanne Daly, senior energy analyst at Vayu, said gas prices are now at lows not seen since September 2010.

"This is due to a combination of low demand and strong supply. Mild weather conditions have been a major factor, with temperatures significantly above seasonal norms during the month, and it is expected to remain mild."

Irish Independent

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