{"id":600333,"date":"2026-08-21T16:12:13","date_gmt":"2026-08-21T16:12:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/600333\/"},"modified":"2026-08-21T16:12:13","modified_gmt":"2026-08-21T16:12:13","slug":"wholesale-electricity-prices-up-56-in-12-months-to-july","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/600333\/","title":{"rendered":"Wholesale electricity prices up 56% in 12 months to July"},"content":{"rendered":"<p>New figures from the Central Statistics Office show that wholesale electricity prices rose by 14.8% in July when compared with June and were 56.2% higher than July of last year.<\/p>\n<p>While wholesale electricity prices remain 59.9% lower when compared with their peak in August 2022, they reached their highest level since January 2025 last month.<\/p>\n<p>The CSO said that all Energy Fuels were up by 0.6% in the month and were up 19.1% since July of last year.<\/p>\n<p>Commenting on today&#8217;s CSO figures, price comparison website Bonkers.ie said that looking at the past six months, which gives a better indication of underlying trends, wholesale electricity prices were almost 30% higher than in the previous six-month period.<\/p>\n<p>Bonkers.ie said the increase is mainly due to the continuing conflict in the Middle East which has seen gas, which is used to generate around 45% of the country&#8217;s electricity, almost double in price compared to last year.<\/p>\n<p>There are no easy solutions to high electricity prices in the short to medium term, according to Bonkers.ie.<\/p>\n<p>&#8220;While the ultimate goal is obviously to drastically reduce our reliance on fossil fuels and natural gas, this will take well over a decade, maybe two,&#8221; it noted.<\/p>\n<p alt=\"Wholesale electricity prices up by almost 30% in past six months\" class=\"tpe\" data-description=\"Daragh Cassidy from Bonkers.ie\" data-embed=\"rte-player\" data-id=\"ed63916b-2c8a-4aa0-8f21-b4ad00d70831\" data-ot-category=\"C0004\" data-title=\"Daragh Cassidy from Bonkers.ie\" id=\"ed63916b-2c8a-4aa0-8f21-b4ad00d70831\">We need your consent to load this rte-player contentWe use rte-player to manage extra content that can set cookies on your device and collect data about your activity. Please review their details and accept them to load the content.<a class=\"blocked-button\" href=\"https:\/\/www.rte.ie\/news\/business\/2026\/0821\/1588760-cso-wholesale-prices\/javascript:void(0);\" onclick=\"OneTrust.ToggleInfoDisplay()\" rel=\"nofollow noopener\" target=\"_blank\">Manage Preferences<\/a><\/p>\n<p>&#8220;And while bringing more renewable energy onto the grid is the correct course of action, building a modern grid which can properly accommodate, transport, and then store this energy (for when the wind doesn&#8217;t blow or the sun isn&#8217;t shining) will take time and cost money, and will even add to bills in the short term,&#8221; it added,<\/p>\n<p>Meanwhile, today&#8217;s CSO figures also showed that producer prices for food products increased by 2.7% in the 12 months to July.<\/p>\n<p>The CSO said some of the most notable changes in producer prices for food products were fish and fish products, which increased by 9%, while other food products rose by 6.7%.<\/p>\n<p>The CSO noted that producer prices for products sold on the domestic market were 4.5% higher in July on the same time last year.<\/p>\n<p>In the 12 months to July, export producer prices rose by 7.6%, while overall producer prices were up by 7.3%.<\/p>\n","protected":false},"excerpt":{"rendered":"New figures from the Central Statistics Office show that wholesale electricity prices rose by 14.8% in July when&hellip;\n","protected":false},"author":2,"featured_media":600334,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-600333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/600333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=600333"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/600333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/600334"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=600333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=600333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=600333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}