Our Department has no direct function in the setting of electricity costs. Sole responsibility for the regulation of the electricity markets is a matter for the Commission for Regulation of Utilities (CRU). This is set out under the Electricity Regulation Act 1999 and the Gas (Interim) (Regulation) Act 2002. The CRU is an independent statutory body.
Electricity prices in the retail electricity markets are fully deregulated for all consumers. CRU's regulation of retail prices to domestic consumers ended in 2011. The prices charged to businesses were either never regulated or had been deregulated before then. The European Communities (Internal Market in Electricity) Regulation 2010 (S.I. 450 of 2010) assigned the function of market monitoring to the CRU . Please visit the CRU website for more information.
Please also see CRU's webpage on "Revenues & Tariffs (Price Controls)"
Suppliers set prices as entirely commercial and operational matters for them. Customers can avail of competitive offerings from electricity suppliers. Consumers can, and should, shop around for better prices and value in the market.
More information on switching suppliers is on CRU website..
Three CRU approved websites; bonkers, switcher and power to switch are very helpful in helping consumers to switch energy suppliers.
The Sustainable Energy Authority of Ireland (SEAI) has a lead role in developing and maintaining comprehensive national and sectoral statistics for energy. SEAI publishes biannual reports on average electricity and gas prices in Ireland. The reports cover electricity and natural gas price data published by Eurostat.