Electricity Prices Ireland 2024: Average Price per Unit

By David Tait Reviewed by Cormac Breen

Editorial Manager

In November 2024, the average price of electricity in Ireland per unit is 34.38c per kWh. This is based on a standard, 24hr urban rate comparing all providers with VAT included. Community Power has the cheapest unit rate per kWh at 28.80c including VAT. The average estimated electricity bill in Ireland is €1,404.55 including VAT and other charges. If you are looking to switch electricity provider, you can call 📞(01) 913 1771.

What Is the Current Unit Price of Electricity in Ireland?

In November 2024, the average price of electricity in Ireland per unit is 34.38c per kWh. This is based on a standard, 24hr urban rate comparing all providers with VAT included.

Community Power has the cheapest unit rate per kWh at 28.80c.

Below you will find a table that compares each provider's standard, 24hr. Urban unit price. No discount offers have been applied to unit rates.

⚡ Kwh Unit Price per Supplier

Supplier	Unit Price
	28.80c
	32.90c
Contact Details	33.31c
Contact Details	33.62c
Contact Details	33.97c
Contact Details	34.03c
Average Unit Rate, 34.29c
Contact Details	35.48c
Contact Details	36.65c
Contact Details	37.05c
Contact Details	38.08c
Call to Switch Energy Supplier Today!  01 913 1771 Click to Get a Free Callback! Free Callback

*Figures are for illustrative purposes only. Unit rates are based on a standard, 24hr, urban rate, and include VAT. No discounts have been applied.
Last updated: November 2024

What Is the Average Price of Electricity in Ireland?

In 2024, the average annual electricity bill in Ireland for a standard, 24hr meter is €1,404.55

Ireland still has some of the most expensive electricity in the EU, but with the wholesale price of gas expected to fall this year, further price decreases may be on the horizon.

The current tariffs, along with the average electricity bill, are listed here:

⚡ Cheapest Electricity Offer per Supplier

Supplier	Best Offer	Estimated Annual Bill
Contact Details	26% on Standard Electricity	€1,231.11
Contact Details	Fixed Discount	€1,242.72
Contact Details	30% on Standard Electricity	€1,242.72
Contact Details	33% on Standard Electricity	€1,257.40
Contact Details	38% off Electricity	€1,270.59
Contact Details	Fixed Rate Offer	€1,271.62
Average Annual Electricity Bill in Ireland, €1,394.70
	25% on Standard Electricity	€1,474.24
	No Discount	€1,490.47
Contact Details	No Discount	€1,853.07
Contact Details	No Discount	€2,034.98
Call to Switch Energy Supplier Today! 01 913 1771 Click to Get a Free Callback! Free Callback

*Figures are for illustrative purposes only. Calculations based on average consumption figures for an urban home with a standard meter. All discounts and cashback have been applied.
Last updated: November 2024

Are Electricity Prices Increasing in Ireland?

While unit rates in Ireland haven't increased and in fact there have been some unit rate decreases by suppliers such as Electric Ireland and Yuno Energy, the estimated annual bill has increased due to a number of factors that have come into effect.

PSO Levy Increase

The PSO Levy for 2024/25 will increase from zero to €3.23 (excluding VAT) per month, or €38.76 per year for households. The increase will take effect from 1st October 2024.

The PSO levy ensures a guaranteed price for electricity produced by renewable energy providers. The levy increases when wholesale energy prices decrease, which has happened this year.

Network Charge Increases

The Commission for Regulation of Utilities (CRU) recently announced that regulated network charges will increase by an average of €101 per annum for residential electricity customers.

Some suppliers like have announced that will not be passing on the increase and will instead lower heir rates to absorb the increase in charges.

Carbon Tax Increase

From 9 October 2024, the rate of carbon tax for petrol and diesel will increase from €56 to €63.50 per tonne. The increase will apply to all other fuels from 1 May 2025.

The tax is aimed at reducing Ireland's use of fossil fuels by encouraging people to make more environmentally sustainable choices when it comes to their use of gas, petrol and diesel, home heating oil and other carbon emitting fuels.

While the Carbon Tax is not applied to electricity only customers, gas and dual fuel customers will see an increase in their monthly bills.

What Has the Irish Government Done About Electricity Prices?

In order to try and tackle the rising cost of energy for homeowners, the Irish government has introduced a number of measures to try and reduce the cost of electricity.

Reduced VAT

The rate of VAT on electricity bills has been reduced to 9% since 2022 in an effort to lower home energy costs.

This lower rate of VAT is set to continue until October 2025 as announced in Budget 2025 however the increase in the PSO Levy will see its effect reduced somewhat.

Winter Energy Credits

It was announced in Budget 2025 that all homeowners will get €250 off their electricity bills.

The energy credit will be paid in 2 instalments of €125. The first payment will be made before the end of 2024, in either November or December, while the second will be made in the new year.

Additional Energy Credits

In addition to the new electricity credit, as part of the Budget 2025 the following were introduced:

1. Fuel Allowance
   More people can now qualify for the fuel allowance, and people already receiving it will get another once-off payment of €300 in November 2024.
2. Living Alone Allowance
   An additional €200 will be paid to recipients of the Living Alone Allowance.

Those who qualify for additional payments are also entitled to the €250 electricity credits, meaning it could be possible to make savings of over €500 this winter on home energy bills.

Electricity Prices in Ireland: An Evolution

Compared to the start of 2023, electricity prices in Ireland have increased by 2% from €0.4514/kWh to €0.4590/kWh.

Over the past 12 years, electricity prices in Ireland have almost tripled.

In the following table, we break down the electricity price in Ireland over the past 12 years in five-year increments.

Calculations are based on an average consumption of 4,200 kWh of electricity per year. All taxes, levies, and VAT have been included:

Source: Eurostat
Last Updated: 01/07/2024

As you can see from the table above, Irish customers are paying almost triple on their electricity bills, more than they were 12 years ago. Rising energy costs have been one of the primary influencers in the continued cost of living crisis in Ireland.

Hopefully in the near future, a lot of this will be offset by the completion of the Celtic Interconnector Project, which will diversify Ireland’s energy acquisition options.

What Can I Do About Electricity Prices in Ireland?

Consumers can take action to reduce their electricity bills on an individual basis.

Even small changes in your energy habits will help keep your costs low and make your cost of living a lot easier. The first things customers can do is to ensure the following:

• Compare Your Provider
  Compare the market and make sure you are with a reputable provider with a fair cost of electricity.
• Check Your Prices
  See our average cost of electricity guide to compare your utility bills to the average home to have an idea of what is a fair cost.
• See the Latest Offers
  Visit our cheapest electricity in Ireland guide to see the latest offers and think about switching provider.
• Reduce Your Consumption
  Implement some of our 101 tips to reduce your electricity consumption.

If you have a bigger budget and would prefer to have a larger impact on your energy consumption, you should explore the following suggestions:

• Install a smart thermostat
• Upgrade your windows and doors
• Insulate your attic and cavity walls
• Consider selling renewable energy
• Replace your boiler

If any of these large renovation projects interest you, be sure to look at the latest SEAI Grants for ideas on what you can do this year to lower your energy use. Every little action will count in helping you survive as the cost of electricity in Ireland continues to spiral out of control.