Irish wholesale electricity prices fell by almost a quarter in February from the same month last year, the Central Statistics Office (CSO) said on Monday, despite recent rises in the retail price of energy to households.
Wholesale electricity prices – the prices paid by energy retailers before selling them on to households and businesses – were some 72.1 per cent lower than the peak that occurred in August 2022, following the Russian invasion of Ukraine earlier that year.
“It should be noted that as these results are for February, they do not capture the impact of the recent events in the Middle East,” said Deirdre Toher, statistician in the prices division of the CSO.
Even before the US bombing of Iran, households were paying more for electricity in recent months. Despite the fall in wholesale prices for energy retailers like Flogas, SSE Airtricity and others, announced price increases in late 2025 and into 2026.
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Household electricity prices were up 4.7 per cent over the 12 months to the end of February, according to the CSO’s most recent consumer price index, published earlier this month.
The Irish Times reported on Monday morning that a tax rebate scheme for hauliers, a double fuel allowance payment and a reduction in excise duty to cut fuel prices at the pumps are all expected to be agreed by the Government in response to the crisis in energy markets.
[ Inflation likely to rise to 4% out to April on foot of Iran crisisOpens in new window ]
Meanwhile, producer prices for manufactured goods consumed in Ireland were on average 2.2 per cent higher year-on-year in February, the statistics agency said on Monday.
However, producer prices for exported goods were down by 6.3 per cent over the same time period, leaving manufacturing producer prices down 5.5 per cent year-on-year.
Wholesale construction product prices were up 1.8 per cent from February, the CSO said.
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Separately, the Construction Industry Federation of Ireland said on Monday that recent spikes in crude oil prices stemming from the Iran war will have a knock-on impact on a wide range of construction materials, sending up prices and squeezing the viability of the projects for Irish firms.
Wholesale food price inflation, which is also expected to rise globally as a consequence of the Iran war and its impact on fertiliser production, fell 2.9 per cent in February from the same month in 2025, the CSO said.
