Energy index shows 1% rise in prices during March

Monday 07 April 2014 08.11
Low volumes from wind turbines pushed the price of electricity up last month
Low volumes from wind turbines pushed the price of electricity up last month

Energy prices rose by 1% last month, according to the latest Bord Gáis Energy Index.

The rise was largely due to a 6% increase in wholesale electricity prices when compared to February, which came as a result of low volumes from wind turbines on days when gas and coal powered plants were out of action.

However the rise in electricity prices was offset somewhat by falling wholesale prices for oil and gas, according to the figures.

The Bord Gáis Energy Index tracks movements in energy prices internationally every month

It suggests that the situation in Ukraine and Crimea has had no perceptible long term impact on energy prices so far.

However Ukraine has been resisting moves by Russia to double the price of Russian gas supplies and has threatened legal action.