Irish News

Thursday 31 July 2014

Irish householders pay among the highest prices in Europe for electricity

Prices rose twice as much as the rest of Europe last year

Aideen Sheehan Consumer Correspondent

Published 21/05/2014|11:33

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A new Eurostat report shows that Ireland has the fourth most expensive electricity in the EU.

IRISH householders pay among the highest prices in Europe for electricity and they rose twice as much as the rest of Europe last year.

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A new Eurostat report shows that Ireland has the fourth most expensive electricity in the EU and the price rose by 5.1pc in the second half of 2013 compared with just 2.8pc across Europe.

Consumers in Ireland pay €24.10 per 100 kilowatt hour (kWh) of electricity which is 20pc higher than the EU average of €20.10 and 34pc higher than our nearest neighbour Britain.

That makes us the fourth most expensive country in Europe for power behind Denmark, Germany and Cyprus.

Irish electricity prices are up to three times higher than the cheapest country Bulgaria, and twice as high as Romania.

The Eurostat figures show that gas prices in Ireland have soared by almost 15pc since 2011

When it comes to gas meanwhile Irish prices are closer to the average in Europe but prices rose by seven times as much here as elsewhere in Europe.

Householders here pay €7.20 per 100 kWh of gas  which is only marginally above the EU average of €7.10, although the price is 22pc higher than in Britain.

Irish gas prices rose by 7.4pc in the second half of 2013 compared with the same period of 2012 while across Europe the average price increase was just 1pc.

Irish gas prices are up 16pc since 2011 which is nearly twice as much as the rest of Europe in that period.

When Eurostat adjusted prices into ‘purchasing power standards’ to take account of general differences in the cost of living in member states, Irish electricity prices were 10pc higher than average, but gas prices were slightly cheaper.

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