Electricity prices in Ireland among the most expensive in Europe

Electricity prices in Ireland are among the most expensive in Europe but are lower than our nearest neighbor, the UK, according to a survey released on Tuesday.

A study of world prices by UK price comparison site Cable.co.uk shows that, on average, Irish people pay 21.3 US cents (€ 0.19) for a kilowatt hour (KWh) of electricity. The price compares to an average for Western Europe of 19.4 cents and 20.7 cents in North America.

The same survey shows that the UK, including Northern Ireland, pays 25.1 cents per kWh for electricity.

Nuclear power

However, electricity in many Western European countries continues to cost less than in the Republic. France, where nuclear power is a key source of electricity, remains one of the cheapest at 17.3 cents per kWh. Spanish prices average 19.9 cents per kWh. The cost in Portugal and Italy is 20.1 cents per KWh.

Norway, a key producer of oil and gas, and where hydropower is widely used to generate electricity, is among the cheapest in Europe with an average price per kWh of 9.3 cents.

Danish consumers

Consumers in neighboring Denmark face the highest bills, with an average price of 35 cents / KWh. Germany follows with an average of 32.3 cents / KWh.

Cable.co.uk’s survey focuses on the prices paid, without a breakdown of production costs, of the fuels used to generate electricity or the taxes paid on electricity.

Rising prices for natural gas, used to generate more than half of the Republic’s electricity, combined with weak winds and temporary power plant shutdowns have pushed up electricity costs here this year.

Most suppliers have announced multiple price hikes since April of this year, when global energy costs started to rise as countries emerged from Covid lockdowns.

Mary I. Bruner