A descriptive comparison of Irish and European electricity prices: 2018–2024

This paper examines trends in European and Irish household electricity prices during the 2018–2024 period, with a particular focus on Ireland. Measured in nominal terms and excluding taxes and levies, Irish electricity prices ranked third highest in 2018 but had risen to be the highest by 2024. Inclusive of energy credits, taxes and levies, Irish prices were the eighth highest in Europe in the second half of 2024. When adjusting for the general cost of living, Irish average electricity prices moved from being the eighth to the fifteenth most expensive in Europe in 2024. Retail prices correlated strongly with the cost of electricity generation and supply during the 2018–2024 period. Network costs have had a lesser influence on total costs to date. Their impact on total costs is expected to increase in the coming years, though remaining modest relative to the increases seen in recent years.