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Electricity prices are poised to fall - but consumers are still going to be paying way over the odds compared to 2020

High charge: Energy prices set to fall, but not by much

There's growing optimism that energy prices will start to fall soon – but consumers shouldn't get their hopes up for a dramatic decline in their bills this winter, writes Adam Maguire.

Business • 27 Aug 23

European gas prices leap on Australian strike concerns

Dutch wholesale gas prices hit a nearly two-month intraday high this afternoon after news of possible strikes at Australian liquefied natural gas (LNG) facilities sparked concerns over cargoes moving to Asia.

Business • 09 Aug 23

Suppliers in Ireland were not bidding for large commercial contracts at the time

Govt body faced difficulty in arranging power supplies

The Government body responsible for arranging power supply for state agencies could not even get companies to bid to provide electricity because of "extreme volatility" in energy prices last year.

Business • 09 Aug 23

The excise duty on petrol will rise by 6c on Thursday, while the duty on diesel will increase by 5c, as the Government starts to unwind the cut it made last March

Motorists braced for fuel excise duty increase

Petrol and diesel prices are at their lowest point in more than 18 months, but consumers are unlikely to welcome the restoration of fuel excise duties, which gets under way in the coming days, writes Adam Maguire.

Business • 31 May 23

Funds from the windfall tax are being used to help offset the rising cost of living

Changes to windfall tax plans after Whitegate concerns

The Government has made changes to its plans for a windfall tax on fossil fuel companies after concerns were expressed by the company that owns the Whitegate oil refinery in Co Cork.

Politics • 24 Mar 23

Britain is to keep a price cap that will see average annual bills stay at £2,500 for an extra three months

Britain extends household energy support scheme to June

Britain extended its support for household energy bills by three months to the end of June, the government said today, keeping a lid on household bills in a move that should help ease the country's cost of living squeeze.

Business • 15 Mar 23

The proposals include plans to reduce the impact of short-term market volatility on consumer bills

EU publishes proposed changes to electricity market

The European Commission has proposed changes to Europe's electricity market rules, to try to increase the use of fixed-price power contracts, shield consumers from price spikes and speed up the shift to renewable energy.

Business • 14 Mar 23

Around 1.28 million people participated in a sixth day of protests yesterday against a draft law that would see the French pension age delayed by two years to 64

French strikes hit fuel deliveries, train & air travel

TotalEnergies' refinery deliveries were suspended today, electricity output reduced and train services disrupted as those sectors remained on strike after a nationwide day of industrial action brought record numbers of people onto the streets.

Business • 08 Mar 23

Today is the second price reduction that Firmus has announced this year

Firmus announces price cut on gas for NI customers

Gas supplier Firmus Energy has announced a reduction in prices across Northern Ireland.

Ulster • 07 Mar 23

Three in five house buyers said the high cost of conventional utilities means they plan to power their home with renewable energy

Energy rating important consideration for home buyers

Energy concerns are to the fore among prospective house buyers, a new survey suggests, as the cost-of-living squeeze continues to bite.

Business • 06 Mar 23

Today's deal with Suncor Energy gives the Norwegian company stakes in several key North Sea petroleum assets

Norway's Equinor buys Suncor Energy UK in $850m deal

Equinor is to buy the British oil and gas business of Canada's Suncor Energy for $850m, giving the Norwegian company stakes in several key North Sea petroleum assets.

Business • 03 Mar 23

The average price of wholesale electricity in the day ahead market was down 9% last month compared to February 2022, new SEMO figures show

Wholesale electricity prices down 15% so far this year

The price of traded wholesale electricity fell by 2% in February compared to January, according to the latest Monthly Market Report from the Single Electricity Market Operator (SEMO).

Business • 02 Mar 23

Over 25,400 businesses have registered for the TBESS and over 23,800 claims have already been approved, Revenue figures show

Changes to TBESS require State aid approval - Revenue

A number of additional changes to the Temporary Business Energy Support Scheme (TBESS) have been announced by the Minister for Finance, but these additional changes are subject to State aid approval.

Business • 02 Mar 23

For the first time since the onset of the energy crisis, the annual rate of food inflation has overtaken energy inflation in the euro zone

Euro zone inflation falls less than expected

The annual rate of inflation across the euro area slowed marginally to 8.5% in February from 8.6% in January, according to an initial estimate from Eurostat.

Business • 02 Mar 23

SVP said energy firms should justify their discounts to business customers

SVP says it received 230,000 requests for help in 2022

A charity has called on energy companies to pass on discounts to struggling families, as it said it received 230,000 requests for help in 2022, with a significant number of people needing help with energy costs.

Ireland • 01 Mar 23

The energy company said it is very difficult to project the trajectory of residential electricity and gas prices

Coveney: 'Fair' to question Electric Ireland rates

The Minister for Enterprise, Trade and Employment has said Electric Ireland needs to answer questions as to why they are reducing bills for business customers but not households.

Ireland • 28 Feb 23

The energy company said it will continue to keep rates under review

Electric Ireland to cut rates for SMEs from next month

Electric Ireland will reduce its electricity tariffs for small and medium enterprises in the Republic of Ireland by an average of 10% from next month.

Business • 27 Feb 23

Eni said today its adjusted net profit rose to €13.3 billion last year

Italy's Eni posts highest profit in more than a decade

Italian energy group Eni said today its adjusted net profit rose to €13.3 billion in 2022, the largest in more than a decade.

Business • 23 Feb 23

Wholesale electricity prices in January fell by 10.5% compared to the same month last year, new CSO figures show

Monthly wholesale electricity prices down 41% - CSO

The wholesale price of electricity fell further in January, dropping by 41.4% compared to December, according to the latest figures from the Central Statistics Office.

Business • 22 Feb 23

The CRU said today that protections in place for customers will be reviewed in advance of next winter

CRU extends moratorium on disconnections until March

The Commission for the Regulation of Utilities, the CRU, has announced that the moratorium on electricity and gas domestic disconnections will be extended until the end of March for all customers.

Business • 21 Feb 23

The Government has warned about scam text messages asking people to click on a link to claim electricity benefits

Warning over scam texts offering electricity benefits

The Government has issued a warning over scam text messages asking people to click on a link to claim electricity benefits.

Business • 21 Feb 23

Engie's earnings were boosted by higher energy prices caused by supply disruptions and Western sanctions on Russian gas

Engie income soars to €5.2 billion on higher gas prices

French energy company Engie today reported a sharp increase in profits for 2022 thanks to higher natural gas and power prices following Russia's invasion of Ukraine.

Business • 21 Feb 23

The average petrol driver now spends around €2,003 per year on fuel, while the average diesel buyer €1,680

Petrol prices up 2.5% in February, but diesel down 1.7%

Fuel prices remained relatively steady across the country in February, the latest AA Ireland fuel prices survey shows.

Business • 20 Feb 23

Pinergy had increased prices seven times since early 2021

Pinergy becomes first energy provider to cut prices

Energy provider Pinergy has become the first energy supplier here to reduce its prices since elevated wholesale costs began to fall on international markets.

Business • 20 Feb 23

Centrica's profits soared to more than £3 billion in 2022

Bord Gáis parent's profits more than treble in 2022

Bord Gáis and British Gas owner Centrica has seen its profits soar to more than £3 billion for 2022 amid rocketing energy prices that have sparked a cost-of-living crisis.

Business • 16 Feb 23

Energy Crisis

High charge: Energy prices set to fall, but not by much

European gas prices leap on Australian strike concerns

Govt body faced difficulty in arranging power supplies

Motorists braced for fuel excise duty increase

Changes to windfall tax plans after Whitegate concerns

Britain extends household energy support scheme to June

EU publishes proposed changes to electricity market

French strikes hit fuel deliveries, train & air travel

Firmus announces price cut on gas for NI customers

Energy rating important consideration for home buyers

Norway's Equinor buys Suncor Energy UK in $850m deal

Wholesale electricity prices down 15% so far this year

Changes to TBESS require State aid approval - Revenue

Euro zone inflation falls less than expected

SVP says it received 230,000 requests for help in 2022

Coveney: 'Fair' to question Electric Ireland rates

Electric Ireland to cut rates for SMEs from next month

Italy's Eni posts highest profit in more than a decade

Monthly wholesale electricity prices down 41% - CSO

CRU extends moratorium on disconnections until March

Warning over scam texts offering electricity benefits

Engie income soars to €5.2 billion on higher gas prices

Petrol prices up 2.5% in February, but diesel down 1.7%

Pinergy becomes first energy provider to cut prices

Bord Gáis parent's profits more than treble in 2022