While current wholesale Electricity prices still remain high by historical standards, prices have fallen by 17.6 % in July (2023) and have reduced by 64 % on an annual basis - Central Statistics Office (CSO). The wholesale market has experienced significant volatility over the past two years and we have worked at all times to mitigate the challenges of these costs for our customers.
As a result, we have taken a decision to move you onto our Market Related Variable Price Product with effect from 1st October 2023. The kWh energy charges on your new tariff will be reflective of monthly wholesale market rates. Depending on how the market rate out turns, the kWh unit rate may move up or down. We continue to review energy market pricing and are committed to providing customers with the best possible value into the future.