CRU says expects energy prices to fall further

📆 14/05/2024 14:46:00
📰 RTEbusiness

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In a new analysis of household energy prices, the Commission for the Regulation of Utilities says it expects further price reduction from suppliers in the coming months.

However, the regulator says a return to retail prices levels like those in 2021 is unlikely as wholesale energy prices are still higher than they were at that time.

It points out, however, that after the Russian invasion of Ukraine in 2022 Irish retail prices were slower to rise than in other European countries. Aoife MacEvilly, Commissioner of the CRU, said it was aware of the challenges that customers face in the context of ongoing high energy prices. "However, as wholesale and retail prices remain above historic average levels, we would continue to urge customers to be active in ensuring they are on the most suitable tariff for their needs," she urged.

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