Photo: Michael O'Sullivan/OSMStrong wind energy output in March kept a lid on electricty bills despite surging gas and oil prices, helping mitiage the hit to consumers and businesses, according ESB Group’s chief financial officer Paul Stapleton. The wholesale price of European gas increased around 60pc in March as a result of the Iran war but wholesale electricty prices are up 25pc, he said. Traditionally the link between European gas prices and wholesale electricty has been much more direct, he said. In the wake of Russia’s Ukraine invasion, the wholesale gas prices got as high as £8 per therm – a standard unit of measurement. In the last month prices have been lifted from around 75 pence per therm to a high of around £1.70.

Source: Irish Independent March 26, 2026 00:22 UTC