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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.
⚡ Electricity Prices in Ireland: The Essentials, November 2024
Selectra brings you everything you need to know about electricity prices 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 including VAT.
Yuno Energy have the cheapest estimated annual bill at €1,242.72.
The average electricity bill in Ireland is €1,404.55 for a 24hr urban standard meter.
The Irish government have included another round of energy credits worth €250 as part of Budget 2025to help combat the current high price of electricity in Ireland.
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.
*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?
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
26% on Standard Electricity
€1,231.11
Fixed Discount
€1,242.72
30% on Standard Electricity
€1,242.72
33% on Standard Electricity
€1,257.40
37% off Electricity
€1,270.59
Fixed Rate Offer
€1,271.62
Average Annual Electricity Bill in Ireland, €1,394.70
*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:
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.
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:
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.
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.
Learn More About Energy SavingOur energy guide articles contain lots of useful information on saving energy, lowering costs and having a more positive impact on the environment.
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