Wholesale electricity prices tumble 68% in 2023

Electricity prices on the wholesale markets plummeted in the year to December 2023, driven by a drastic drop in the last four weeks of the year

Wholesale electricity prices have reached their lowest point since April 2021. Picture: Getty

Wholesale electricity prices fell by 67.8 per cent in the 12 months to December 2023, according to new figures from the Central Statistics Office (CSO), driven lower by a significant drop in the last four weeks of the year.

The figures - which come as energy providers move to cut rates to remain competitive - show wholesale electricity rates fell by more than a quarter from November to December, down 27.6 per cent.

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