Find a Cheaper Electricity Provider and Save Money in 2025!

Call our Selectra agents today for expert and trusted advice on switching electricity providers and make sure that you are getting the cheapest deal on electricity prices. Figures quoted are only available for direct debit payment.

38% Variable Discount

Estimated Annual Bill

€1,270.59 /year

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32% Discount

Estimated Annual Bill

€1,307.40 /year

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26% Discount

Estimated Annual Bill

€1,373.02 /year

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What is the Selectra Electricity Price Tracker?

The Selectra Price Tracker shows you the hourly price of electricity as traded on the EPEX SPOT electricity exchange. There, electricity prices are determined in real-time based on supply and demand.

With the Selectra Electricity Price Tracker, you can see exactly when electricity is particularly cheap or expensive.

This is especially useful if you use a dynamic time-of-use tariff, as you can adjust your consumption to take advantage of cheaper times during the day.

  • Why the Selectra Electricity Price Tracker Is Helpful for You:
  • Real-time price information: The tracker provides you with current prices directly from the EPEX SPOT electricity exchange, so you always know how much your electricity costs.
  • Cost savings: By focusing your electricity consumption during cheaper price times, you can significantly reduce your electricity bill.
  • Optimization of energy consumption: The tracker not only helps you find the cheapest time for electricity but also shows you how to plan your consumption to match the fluctuating prices on the electricity exchange.
  • Transparency: With the Selectra Electricity Price Tracker, you have full control over your energy costs and can make informed decisions.

Who Are Dynamic Electricity Tariffs Good For?

Dynamic electricity tariffs are particularly suitable for owners of electric cars because they offer the possibility to shift your electricity consumption to cheaper times of the day. This allows you to charge your EV at a time when the electricity price is lower, optimizing your electricity costs!


 

But even without an electric car, these tariffs can be advantageous. Those who adjust their electricity consumption patterns to the cheaper times – whether it be for the washing machine, dishwasher, or other appliances – can also benefit from significant savings.

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Development of the Average Electricity Price

Below is a graph showing the development of the average electricity prices over the last few days.

Daily average price: calculated mean of the daily prices.

How Is the Epex Spot Electricity Price Calculated?

The EPEX SPOT electricity price is formed through trading on the EPEX SPOT, an electricity exchange that represents the spot market for electricity.

The spot market refers to the short-term trading, where the electricity price for the next day or for the specific time is determined. The EPEX SPOT electricity price is determined by the interaction of supply and demand.

The process is as follows:

  • Supply and demand:
    Electricity producers (e.g., wind power, solar, or fossil fuel plants) and electricity traders offer their electricity at different prices. At the same time, electricity providers, network operators, and traders specify their purchase prices.
  • Market clearing:
    On the EPEX SPOT, the electricity price is determined by an auction where the balance between supply and demand is achieved. The resulting price is called the market clearing price or “clearing price”, which ensures that the offered quantity of electricity matches the demanded quantity.
  • Hourly price formation:
    The electricity price is set for each hour of the next day, with prices varying according to demand. During times of high demand, such as mornings or evenings, prices often rise, while they tend to fall during times of lower demand, such as at night.
  • Renewable energy and weather factors:
    The price can also be influenced by the share of renewable energy. When wind power or solar production is high, electricity generation is high, which can lead to a falling price. When the production of renewable energy is low, such as on windless or cloudy days, prices typically rise due to the higher demand for electricity from fossil sources.

Frequently Asked Questions About the Current Electricity Price on the Exchange

Why Do Consumers Pay More Than the Price on the Exchange?

The exchange price is only part of the total costs. In addition to the electricity price, additional costs such as network charges for the transport of electricity, taxes, and levies (e.g., PSO levy and VAT), as well as distribution costs for administration and customer service are incurred. Moreover, electricity providers often calculate price buffers to protect against price fluctuations.

What Are the Main Factors That Influence the Electricity Price on the Exchange?

The electricity price on the exchange is influenced by several factors. These include primarily the supply and demand situation on the market, the availability of renewable energy such as wind and solar energy, and weather-related factors. Also, political decisions and regulatory changes, such as subsidies for renewable energy or changes in CO2 prices, can affect the price.

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*Our energy experts, who specialise in the Irish energy market, are trained representatives of Selectra.ie and offer a free of charge, price comparison service.