Despite the jump in March, wholesale electricity prices are still 66.8% lower than they were at the peak of energy prices in August 2022

Monthly wholesale electricity prices jump 19% in March

by · RTE.ie

Wholesale electricity prices rose by 19.2% between February and March, according to the latest figures from the Central Statistics Office.

Despite the sharp monthly increase, wholesale electricity prices - which are the prices providers themselves pay - were 2.4% lower in March when compared with the same month in 2025.

The CSO also notes that wholesale electricity prices are still 66.8% lower than they were at the peak of energy prices that occurred in August 2022.

The figures also show that the price index for all energy fuels rose by 4.6% in March, and was up by 6.5% in the year since March 2025.

The figures come as Energy Minister Darragh O'Brien recently warned electricity prices for households could rise by up to 9% this summer.

Minister O'Brien said the situation around electricity prices is "very volatile" due to global pressures.

Commenting on today's CSO figures, Daragh Cassidy from comparison site Bonkers.ie said that wholesale electricity prices can be quite volatile and a month-on-month change of between 10% to 20% up or down is not that uncommon these days.

"The key is to look at the figures over a longer period of six to 12 months. Indeed, prices are down slightly compared to last year and they're now only back at the level they were at in January. So we haven't seen a huge impact on prices from the conflict in the Middle East just yet. Though that could obviously change over the coming weeks," Mr Cassidy said.

"However, that's not to say that wholesale prices aren't high. They are. They're still around double the level they were at before the war in Ukraine broke out. On top of this, charges for the upkeep and management of the grid continue to go up," he said.

"These charges now make up around 40-50% of the total cost of electricity for households I'd say. So a combination of stubbornly high wholesale electricity prices and increasing grid costs is likely to mean we'll see some electricity price hikes later in the year unfortunately," he added.