Electricity prices - Ireland

⚡ Ireland’s Electricity Market: A Greener Grid with Smarter Prices

Ireland is undergoing a quiet energy revolution. With ambitious climate goals, a rapidly growing renewable sector, and smarter pricing structures for households and businesses, the Irish electricity market between 2023 and 2025 is one to watch. Here’s a quick look at what’s powering the Emerald Isle—and what it means for your energy bill.

🌬️ What's Powering Ireland?

Ireland’s electricity still relies heavily on natural gas—but that’s changing fast. As of 2023:

• Natural gas provided ~44% of electricity generation.
• Renewables hit a record ~42% share, mostly from wind energy.
• Coal and peat are being phased out, now contributing just ~3.5%.
• Imports via interconnectors (from the UK and EU) now make up ~10% of supply.

Wind dominates the renewable mix, but solar power is catching up, with over 120,000 rooftop systems installed and dozens of new solar farms popping up across the country.

🎯 Renewable Energy Goals: Big, Bold, and Getting Closer

Ireland’s Climate Action Plan 2023 sets a bold target: 80% renewable electricity by 2030. To get there, we’ll need:

• 6 GW of onshore wind by 2025
• 5 GW of offshore wind and 8 GW of solar by 2030

Progress is steady, especially with new support schemes and feed-in tariffs. The Clean Export Guarantee (CEG) now pays small solar producers at least €0.195/kWh for power they export back to the grid.

💸 Breaking Down Your Electricity Bill

Wondering why your electricity bill looks the way it does? Here’s where the money goes:

• Wholesale costs (~55–60%): Ireland’s reliance on gas makes prices volatile.
• Network charges (~30–35%): Fees for transmission and distribution.
• PSO Levy (~€3.50/month): Supports renewables and grid stability.
• Supplier margins (~5–10%): Billing, support, and customer service.
• VAT (13.5%): Tax on the total.

After two years of PSO credits (which lowered bills), the levy returned in 2024 to support new clean energy investments.

⏱️ Smart Meters, Smarter Prices: The Rise of Dynamic Tariffs

Ireland is going smart. Over 1.8 million households now have smart meters, and from October 2025, all major suppliers must offer dynamic pricing tied to real-time market rates.

Already, many suppliers are rolling out Time-of-Use (ToU) tariffs:

• Electric Ireland: Peak (5–7pm), Day, and Night bands.
• SSE Airtricity: Similar ToU structure.
• Energia: Day/Night plans with EV-focused options.
• Bord Gáis: Offers business and residential smart rates.
• PrePayPower: ToU for budget-conscious prepaid users.

If you can shift laundry, dishwashing, or EV charging to off-peak hours, these plans could save you real money.

🏆 Top Suppliers Offering Dynamic or ToU Tariffs

Here’s who’s leading the charge:

In short: Ireland is building a cleaner, smarter, and more flexible electricity system. Whether you're looking to reduce your carbon footprint or just lower your bill, there’s never been a better time to plug into the future.