Wholesale electricity prices fell by 16 per cent in November compared with the same period last year, new data from the Central Statistics Office (CSO) shows.
The price was 68.3 per cent lower when compared with the peak that occurred in August 2022 in the wake of Russia’s invasion of Ukraine. It was, however, up 21.9 per cent compared with the previous month.
The price index for all energy fuels rose by 4.7 per cent in the month and by 2.3 per cent in the year. The overall energy products index was up by 17.1 per cent since October but was 12 per cent lower when compared with November last year.
While wholesale prices have softened considerably over the past 12 months, retail prices for consumers remain elevated.
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Flogas, SSE Airtricity, Bord Gáis Energy, Pinergy and Energia have all increased electricity prices by between 10 per cent and 15 per cent on average, which will add about €200 to the average annual bill for their customers.
On the flip side, Yuno Energy, PrepayPower and Electric Ireland have announced they are freezing electricity prices for the next few months at least.
All suppliers have kept their gas prices on hold for now, while Electric Ireland is cutting its gas prices by 4 per cent from November 1st.
Meanwhile, producer prices for food products increased by 3 per cent in the year and 0.1 per cent since October. The overall food products, beverages and tobacco index was up by 2 per cent in the year.
Some of the most notable increases in producer prices for food products over the year were for dairy products (11.1 per cent); meat (6.7 per cent); and fish (5.1 per cent). Prices for vegetables and animal oils and fats were down 16.2 per cent.
CSO statistician Deirdre Toher said wholesale price inflation remained unchanged in November in the overall producer price index for manufacturing industries in the month.
“The price index for export sales was unchanged since October, while the index for home sales was down by 0.1 per cent in the month,” she said.
“Producer prices for products sold on the domestic market were 1.1 per cent higher in November compared with November 2024. In the 12 months to November, export producer prices fell by 6 per cent, while overall producer prices were down by 5.3 per cent.”
Elsewhere the “all materials index for construction products” rose by 1 per cent in the year and by 0.1 per cent in the month. The building and construction index, which covers materials and wages, was 2 per cent higher than last year and unchanged in the month.
Notable annual increases in prices for construction products include copper pipes and fittings (6.9 per cent); plaster: (6.7 per cent); ready mixed mortar and concrete: (4.8 per cent); and rough timber (4.6 per cent).
There was a 5.8 per cent reduction in the wholesale price of bituminous emulsions, as well as a 4.8 per cent reduction in the price of protection and communication equipment.
