What Are the Current Electricity Prices in Ireland?
| Metric | Average Cost |
|---|---|
| National Average Unit Rate | 36.34c per kWh |
| Average Annual Bill (Standard 24hr) | €1,817.12 |
| Cheapest Unit Rate | 28.80c (Community Power) |
| Cheapest Annual Bill | €1,299.52 (Yuno Energy) |
Ready to Switch and Save on Your Energy Bills?
Our energy experts at Selectra compare all 11 Irish suppliers to find you the lowest rate for your home — completely free.
Why Electricity Prices May Go Up in 2026
Record Investment in the National Grid
The CRU mandated a massive €18.9 billion overhaul of the national grid for offshore wind expansion and data centre demand. Network charges will add €29–€101 per year regardless of consumption levels.
Carbon Tax Increases
On May 1, 2026, tax on gas/solid fuels increases to €71 per tonne. Dual fuel customers can expect €20–€30 annual gas increase.
Factors Helping to Keep Prices Stable
9% VAT Extension
Budget 2026 confirmed the 9% reduced VAT rate on electricity and gas will remain in place until December 31, 2030.
The Arrival of Dynamic Pricing (June 1, 2026)
By June 1, 2026, major suppliers must offer dynamic price plans tracking EirGrid wholesale spot market with rates changing every 30 minutes.
| Feature | Standard Smart Plan | Dynamic Price Plan |
|---|---|---|
| Price Logic | Fixed day/night/peak rates | Changes every 30 minutes |
| Savings Potential | Moderate (approx. 10–15%) | High (up to 40% if automated) |
| Risk Level | Low; prices predictable | Higher; open to wholesale spikes |
Lower PSO Levy
Public Service Obligation levy reduced for 2025/26 period, sitting at €1.46 per month (approx. €1.59 inc. VAT).
The Verdict: Will Bills Be Higher in 2026?
The answer is "yes and no." Fixed bill portions (standing charges) will likely increase due to grid investments. However, unit rates are expected to remain stable or decrease slightly as the Celtic Interconnector comes online, providing access to cheaper French nuclear and solar energy.