Wholesale Electricity Prices Fall Sharply Over the Past Year, CSO Data Shows
New data from the Central Statistics Office indicates that wholesale electricity prices continued to trend downward at the end of last year, offering some relief after several years of volatility in energy markets.
According to the latest figures, wholesale electricity prices fell by 11.7% in December compared with the previous month. On an annual basis, prices were 20.9% lower than in December 2024. The CSO also noted that wholesale electricity prices are now 72% below their peak level reached in August 2022, following the invasion of Ukraine and the resulting disruption to global energy supplies.
Despite the recent decline, the longer-term picture remains mixed. The CSO reported that the average wholesale electricity price across 2025 was 5.5% higher than the average recorded in 2024, reflecting periods of upward pressure earlier in the year.
The figures also provide insight into broader price movements within the manufacturing sector. Wholesale price inflation eased in December, with the overall Producer Price Index for manufacturing industries falling by 0.6% during the month. However, producer prices for goods sold on the domestic market were 0.8% higher in December compared with the same period last year.
Food prices showed varied trends across categories. Producer prices for food products rose by 1.7% over the twelve months to December. Within this, dairy products recorded an increase of 11%, while prices for fish and fish products rose by 5.1%. In contrast, vegetables and animal oils and fats experienced a significant decline, falling by 16.2% over the same period.
These developments highlight the uneven nature of price movements across energy and food markets, with implications for businesses managing costs and pricing strategies in the year ahead.
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