New figures from the Central Statistics Office show that wholesale electricity prices fell by 6.2% in the month to December but were 53.9% higher compared to December 2023.
The CSO said that wholesale electricity prices remain 64.7% lower than the peak that occurred in August 2022.
The annual average price of wholesale electricity in 2024 was 11% lower than the annual average price in 2023, it added.
The CSO said the overall Energy Products Index was down by 4.8% since November 2024 but was 36% higher when compared with December 2023.
Today’s CSO figures show that overall wholesale price inflation showed an increase in December with a 0.6% growth in the overall Producer Price Index for manufacturing industries in the month.
Producer prices for products sold on the domestic market were 1.4% higher in December compared with the same month in 2023.
In the 12 months to last December, export producer prices rose by 3.5% while overall producer prices were up by 3.3%.
Meanwhile, producer prices for food products increased by 4.2% in the 12 months to December, while the Food Products, Beverages & Tobacco Index was up by 3.4%.
Producer prices for dairy products jumped by 9.8%, while meat and meat products rose by 5% and grain milling, starches and animal feeds were down 3.9%.
And wholesale prices for construction products grew by 0.1% in the month to December 2024 and rose by 1% in the 12 months since December 2023.
Article Source – Wholesale electricity prices up almost 54% in year to December – CSO – RTE
