The chairman of the Commission for Energy Regulation, Michael Tutty, has said there the price of both gas and electricity should remain at current levels up to 1 October 2009.
And he said he was hopeful that there may be a price reduction for gas after that.
Speaking on RTÉ Radio's Morning Ireland, Mr Tutty said Bord Gáis and the ESB had already bought most of the gas needed for energy up to that period.
The ESB uses gas to generate most of its electricity supplies.
He also said the row between Russia and Ukraine over gas was also unlikely to affect prices here.
Mr Tutty said the price would remain stable, barring major shifts in the price of supplies.
