Sign in. It’s quick, free and it’s up to you.
An account is an optional way to support the work we do. Find out more.
MINISTER FOR CLIMATE Eamon Ryan has said he expects household energy prices to “fall significantly” in the first quarter, or the first half, of next year.
Ryan said it is significant that the forward price for gas for the month ahead is 81 pence per therm, compared to being above 100 pence for the last year and a half.
While the price is still above historical average levels of approximately 50 pence, Ryan said it is noteworthy that it is on the way down and that he expects it to be driven down further.
“My expectation is we’re going to see prices fall quite significantly, I think in the first half/first quarter of the year.
“The wholesale price yesterday in Ireland was down to 68 euros per megawatt hour and we’ve also had a very windy autumn [and a] very windy winter, so that wind power drives the price down also and that’s going to feed into the retail prices in the first half of next year,” Ryan told reporters at a roundtable interview in Dublin today.
He said while we will not know the exact reduction, some energy providers have already announced plans to cut their prices for next year.
Last week, SSE Airtricity announced plans to cut electricity rates by 12.8% from February.
Ryan said he expects other players to follow suit.
“It’s just a good news story I think for householders looking into the new year,” he said.
He added however that he does not think prices will return to their historic averages.
“But it won’t be the exceptional prices over the last two years,” he said.
To embed this post, copy the code below on your site
That means they will rise significantly next year, the greens love to tax anything that ordinary people need to survive
@Jimmy Wallace: he’s right tho
FG are playing an absolute blinder
I don’t feel energy companies will reduce their prices (if at all) any significant amount. We may get a miserable 1 per cent if they are feeling generous.
@Richard Starling: the companies may reduce prices and that leaves it open for the Ryan to either raise the tax or give us a nice new shiny levy, in the interest of the environment of course
@Michael Howe: Good point Michael, I missed that one.
@Mary Looners: I would be interested to know which company is offering the 40% discount as I am out of contract and unable to get such a deal.
@Eileen Kelly: I have just renewed my contract and did quiet abit of shopping around and no company came even close to offering a 40% discount, I would also like to know who is offering it.
@Eileen Kelly: so would I
@Adrian Kehoe: Mary is Jon, Bobby, Paul, John, Peter, Harry, Jon Jon, Pete, Murray, and many many more accounts who constantly tro lls and this post is just further evidence of it.
@Seanie: The ‘account’ that posted that claim belongs to a troll who runs several aliases whose sole participation on this site appears to be to create misinformation and ruination of good debate.
@Mary Looners: who was that with?
@Adrian Kehoe: my contract ended with Bord Gais late September, when I logged into account a few weeks prior , there was a 30% discount offer to renew, which I did followed by a 12%reduction in unit price and standing charge which came into force in November I think. You need to check your account for renewal offers prior to expiry of contract.
@KTH: Mary is in fact a stalwart fianna fail man, who had hopes of running in the local elections for the party, but was thrown out of the party for some disgusting comments he made online about a dead man, isnt that right Stephen?
@You’re Not Serious: you won’t get an answer from Stephen.
@Michael o connor: I remember Kearon acting as an analyst during the count after the 2020 election, RTE referred to him as a FF info tech guy. I’d imagine the state paid him for this. Remarkable considering his sick comments that put an end to him ever having a chance to run for his beloved FF.
@Mr Inbetween: ya, he did a lot of work for FF, “hosting” websites for ministers seemed to be a lucrative job, all for the love of the party of course. It’s not like these boys are in it for what they can get!!
@Mary Looners: no way that’s excellent !! Think I might be locked in for a few more months after changing last year and was almost immediately hit with a big hike. Who did you change to and did you have to haggle for it or was it an open offer ? Because I am not savvy ha
I couldn’t be prouder to be a FG patriot
@Mary Looners: 40% off an overinflated guyghing baseline. Wake up.
Any gains the power companies may give to an individual will quickly be taken back by Aul Eamo, this man needs to be ousted as quickly as possible along with the rest of the coalition, the elections can’t come quick enough, FG knows too well with lots of non runners ‘stepping down’ for this cycle, writing is on the wall, the ship is sinking
@Tom L: I’m sure you’re a hit at parties – ease up on the doom n gloom – it’s Christmas!
@Tom L: Remember, SF have not ruled out going into government with the greens, so they may be back with brand new taxes coming soon to a country near you .
@did you every wonder: I wonder have Fianna Fail ruled out going into coalition with Fine Gael like they did three years ago, mmm, and why Green bash when everyone knows they’re there just to make up the numbers for FFG.
@Mr Inbetween: They are trying to run the whole show and of the other two mess up they threaten to leave and bring down the government. At least they used to. Now they realise they have burnt a lot of people they are in full election mode telling everyone all the wonderfully things they have done. Nothing to do with the other two parties.
Except, people are not forgetting.
A decrease in energy prices will mean an increase in carbon tax.
@john dennehy: There are no carbon taxes on electricity. Meanwhile carbon taxes on my last gas bill amounted to a whopping €4.33. For all the hullabaloo made about carbon taxes, dropping them entirely would make SFA difference to people’s total outgoings.
Comments closed on the highly controversial story that is Newgrange. Any idea how the Journal decides these things? Genuine question.
@Glen Kennedy: New Grange restoration highly controversial back in the day. No evidence that it was how they restored it. More a bord failte job is the opinion of some.
still waiting for him announce the details of the windfall tax on the energy company profits or has it been swept under the carpet.
Well eamon cheap wind energy the same price as oil produced plenty wind but no change in price I see u no longer say cheap renewable but sustainable I wonder why
Anything to promote the notion that corporations are your friends and government is useless. Right wing greenwashing strikes again.
Wow oh Wow… A comment section open…. What a find….
No doubt Eamo will use it as an excuse to hike energy taxes once the May elections are over…. before he tries to ban us from using our cars. He should have stayed in Beijing or wherever it was in China he was so fond of earlier in the year.
@Louise Marie: I agree he should’ve stayed in China & watch them build the 1,000 coal fired power stations they have plans to build over the next 25 years….
Somebody tell Pinergy.. Still 44 per unit cent ffs. 2 year contract with 50 euro a month get out fee..
@Sickof thisshit: Pinergy? I thought they were always one of the most expensive suppliers, if not the top one?
@Wolfgang Bonow: first to drop price niut then others dropped way further. Average 33 cent a unit.
Year after next ryan will be digging the tax for this out of your hole with a shovel to protect the environment short lived it will
The energy companies have broken us! IT’S Time to rein them All in and place Price Caps for the foreseeable future! Enough IS Enough!!!
Reading this it is to come to the conclusion that we will have an election next year.
“It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grammes a week. And only yesterday, he reflected, it had been announced that the ration was to be REDUCED to twenty grammes a week. Was it possible that they could swallow that, after only twenty-four hours?
Yes, they swallowed it.”
Well believe that when we see it in our bills and not government subsidies off setting their buddies screwing us in energy companies.
I’ll believe it when I see it. Which means I’ll never believe it
Has Eamon Ryan factored in what’s happening in the Red Sea at present where shipping companies are not sailing through this will invariably mean the cost of oil will Rise as companies reroute the shipments and an extra cost to receivers and then to us via the fuel pumps and electric and gas companies.
I believed it until I heard who said it
Hush up Eamon ! We all know you and your ilk only know how to tax people in this country. Jog on ye f00l! How anyone listens to this sub human is beyond me!
Big chunky well fed head on him
Oh fcucuck off Eamon Ryan
Go back to sleep eamon!
He’s just sorry they won’t be getting so much VAT and carbon tax out of us.
Eamon for president
@Patrick Presley: NOT in This Economy!!!
Lol
The “pudding” to steal a phrase from Michael O’Leary is completely out of his depth . He fails to realise that ultimately economies run on energy and that pricing it to prohibitive levels will spur disinvestment of major companies and will make us uncompetitive on the world stage.
have your say