The average wholesale electricity price in Ireland fell to 100.87 euros per megawatt-hour in August 2024. During the period in consideration, figures reached a record high in March 2022, at over 293 euros per megawatt-hour. This was an increase of more than 302 percent compared to the same month a year prior.
In 2021, electricity prices in the European Union soared. This was due to a myriad of factors, including increased heating demand due to cold winters, a rise in natural gas and coal prices, and a decline in wind power generation as a result of a lack of wind. This energy supply shortage was further aggravated by Russia's invasion of Ukraine in February 2022, causing prices to spike once again in the following months.
Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024
(in euros per megawatt-hour)
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Ember. (September 11, 2024). Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024 (in euros per megawatt-hour) [Graph]. In Statista. Retrieved October 02, 2024, from https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/
Ember. "Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024 (in euros per megawatt-hour)." Chart. September 11, 2024. Statista. Accessed October 02, 2024. https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/
Ember. (2024). Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024 (in euros per megawatt-hour). Statista. Statista Inc.. Accessed: October 02, 2024. https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/
Ember. "Average Monthly Electricity Wholesale Price in Ireland in Selected Months from January 2019 to August 2024 (in Euros per Megawatt-hour)." Statista, Statista Inc., 11 Sep 2024, https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/
Ember, Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024 (in euros per megawatt-hour) Statista, https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/ (last visited October 02, 2024)
Average monthly electricity wholesale price in Ireland in selected months from January 2019 to August 2024 (in euros per megawatt-hour) [Graph], Ember, September 11, 2024. [Online]. Available: https://www.statista.com/statistics/1271371/ireland-monthly-wholesale-electricity-price/
