Electricity prices 50% higher now than in 2016

The CRU, Ireland’s independent energy and water regulator, noted the increased cost in wholesale electricity and gas prices is having a knock-on effect on customers’ pockets, with wholesale electricity prices now 50% higher than they were in 2016.

Some electricity and gas customers faced as many as three price hikes in the first nine months of last year, according to a new report by the Commission for Regulation of Utilities (CRU).

Although the report currently outlines the situation of the energy market in Ireland the recent UK price cap rise will see big six suppliers E.on and EDF increasing energy prices to the maximum allowed under the new cap on standard variable tariffs – hitting customers with an average 10.3% rise from 1 April. 

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