Saturday 1 October 2016

Wholesale gas prices down on last year

Published 21/12/2015 | 02:30

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

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.

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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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