{"id":632971,"date":"2026-09-23T00:42:16","date_gmt":"2026-09-23T00:42:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/632971\/"},"modified":"2026-09-23T00:42:16","modified_gmt":"2026-09-23T00:42:16","slug":"wholesale-electricity-prices-jump-almost-77-in-one-year-%c2%b7-thejournal-ie","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/632971\/","title":{"rendered":"Wholesale electricity prices jump almost 77% in one year \u00b7 TheJournal.ie"},"content":{"rendered":"<p>WHOLESALE ELECTRICITY PRICES have jumped by almost 77% in one year, new <a href=\"https:\/\/www.cso.ie\/en\/releasesandpublications\/ep\/p-wpi\/wholesalepriceindexaugust2026\/?utm_source=email&amp;utm_medium=email&amp;utm_campaign=WPIAug26\" target=\"_blank\" rel=\"nofollow noopener\">data<\/a> from the Central Statistics Office (CSO) revealed.<\/p>\n<p>Electricity prices climbed 9.6% on a monthly basis in August and were 76.9% above August 2025 levels.<\/p>\n<p>Wholesale electricity prices are what generators charge suppliers on the open market, while household prices are the total retail costs billed to customers.<\/p>\n<p>Much of Ireland\u2019s wholesale electricity comes from imported natural gas.\u00a0<\/p>\n<p>While household electricity prices are yet to see the effects of the spike, bills are set to\u00a0increase by around \u20ac41.25 a year from October to facilitate an upgrade to the electricity grid.\u00a0<\/p>\n<p>Meanwhile, as a result of the war in the Middle East, fuel costs including petrol and diesel have increased monthly by 11% in the same period, marking an annual rise of 34.5%.<\/p>\n<p>However, there has been a decrease in producer prices for food products, which has fallen by 2.1% in August on a monthly basis.<\/p>\n<p>Last year, these prices were up by 0.6%.\u00a0<\/p>\n<p>Meat and meat products in particular were shown to be down by 9.6%.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2026\/09\/1790124136_94_.png\"  alt=\"Screenshot 2026-09-22 at 16.44.51\" class=\"alignnone inline-image\" \/><br \/>\n            Labour Party spokesperson on Finance Ged Nash outside Leinster House today                    Rolling News<\/p>\n<p>    Rolling News\n<\/p>\n<p>Speaking outside Leinster House today, Labour\u2019s finance spokesperson Ged Nash said that the spike in electricity prices is \u201cexactly why we need targeted energy credits\u201d.<\/p>\n<p>\u201cWe have said a \u20ac400 credit for households with less than \u20ac80,000 of income a year, an energy credit should be received by them,\u201d Nash believed.<\/p>\n<p>This would be raised by a \u201cwindfall tax close to 500 million\u201d imposed on the supernormal profits of energy companies.<\/p>\n<p>Nash added that \u201cenergy companies aren\u2019t making these super-normal profits because of the genius of their engineers and business managers, they\u2019re making these profits because of a very volatile international situation\u201d.<\/p>\n<p>Social Democrats Senator Patricia Stephenson remarked that the increase in electricity prices was \u201cawful\u201d and a worry for workers and households.<\/p>\n<p>\u201cIt is compounding the difficulty that is already existing for households, but it\u2019s going to make it so much worse as we come into the winter months\u201d, she said.<\/p>\n","protected":false},"excerpt":{"rendered":"WHOLESALE ELECTRICITY PRICES have jumped by almost 77% in one year, new data from the Central Statistics Office&hellip;\n","protected":false},"author":2,"featured_media":632972,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,943,40819,5483,5485,61,60,91022],"class_list":["post-632971","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-cost-of-living","tag-cso","tag-electricity-prices","tag-energy-costs","tag-ie","tag-ireland","tag-windfall-tax"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/632971","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=632971"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/632971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/632972"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=632971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=632971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=632971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}