Oireachtas Joint and Select Committees
Tuesday, 15 July 2025
Committee on Budgetary Oversight
Quarterly Economic Commentary: Economic and Social Research Institute
2:00 am
Dr. Muireann Lynch:
Retail and wholesale prices have come down from the peak we saw in 2022. Specific businesses should perhaps look into switching supplier or perhaps their usage has gone up. In general, why have prices not come down? It seems the high usage of gas in Ireland is driving that to some extent. Also, if we adjust energy prices for purchasing power parity, we come much closer to the European average. It is at least somewhat bound up with the fact we are a high cost-of-living economy in general. I went into more detail previously in response to Deputies Cian O'Callaghan and Devlin. Perhaps the Deputy would like to look back at that. We are also writing a paper at the moment on electricity costs, which we would be happy to send on to the committee when it has been finalised.
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