- Tuesday 11 July 2023
Irish Times: Electricity Prices for Households Expected to Fall in Coming Months
Source:
The Irish Times
Author: Pat Leahy
Minister for Climate Action Eamon Ryan has said he expects electricity prices for Irish households to begin coming down in the coming months.
“I expect the prices to start coming down within the coming months, in the autumn period,” Mr Ryan told a press conference at Government Buildings. “And that needs to happen. Irish householders are put to the pin of their collar by really high prices, caused by our reliance on fossil fuel.”
Mr Ryan said an energy summit held at Government Buildings showed that Ireland has a clear pathway towards lower-cost, more secure and cleaner energy.
Taoiseach Leo Varadkar said the development of offshore wind as a renewable energy source would be Ireland’s “moon shot for the 21st century”.
“This project will go well beyond the lifespan of this Government, and into that of the next one and the one after that,” he said. “It will bring enormous benefits to our economy, to the environment and is also a great opportunity to bring balanced regional development.”
The leaders were speaking at an energy summit attended by senior officials, ministers and energy experts. Discussions focused on accelerating renewable energy delivery, ensuring energy security, and maximising the economic and social benefits of the energy transition.
Speaking ahead of the summit, Mr Ryan said Ireland is already among the world’s leading countries for integrating onshore wind into the electricity grid.
Last year, wind farms supplied more than one third of Ireland’s electricity. Significant investment is continuing in grid infrastructure to support increasing levels of renewable generation from wind and solar in the years ahead.
“There is no turning back,” Mr Ryan said. “Ireland has signed its first electricity interconnector with France, strengthened interconnection with the UK, and launched its first offshore wind auction, with further phases planned.”
The Minister said it makes sense for Ireland to harness its own clean, economical, indigenous power rather than remain dependent on expensive and volatile fossil fuels.
While wholesale and policy changes may lead to lower prices over time, many households are still encouraged to actively review their electricity plans to ensure they are on the most competitive available tariff.
Services such as WeSwitchU help households compare and switch energy supplier, ensuring they do not remain on expensive standard rates once introductory discounts end.