Energy prices, as measured by the Bord Gáis Energy index, fell 5% during the month of May and are 4% lower than they were in May last year.
The index measures gas, oil, coal and wholesale electricity prices. All four recorded price falls last month.
Prices spiked earlier this year due to unseasonably cold weather in Ireland and the UK, which is where we import much of our natural gas from.
Ireland has also started to benefit from a new sub-sea power cable, which connects the Irish and British power grids and has helped reduce wholesale electricity prices.
