Here’s a simplified summary of what your business might need to know about electricity costs in Ireland, what drives them, and how to manage them.
At Cost.ie, we simplify energy for Irish businesses. You’ll hear about “wholesale electricity prices” in the news — but those aren’t the prices you see on your bill. This page explains how wholesale prices work, what they mean for your business, and how our Galway-based brokerage helps you turn energy confusion into cost savings.
What are Wholesale Electricity Prices?
Wholesale prices are the foundation of Ireland’s energy market. Generators such as wind farms and gas plants sell electricity into the system, and every 30 minutes a new wholesale price is set. The last generator needed to meet demand sets the price — a system known as marginal pricing. In practice, this means that even when renewables are available, the final cost is often determined by the price of natural gas, because gas is needed to balance the system.
Wholesale Price Trends
Electricity prices have shifted dramatically in recent years. In 2025, the 12-month average wholesale price is around €122.89 per MWh, which works out at 12.29 c/kWh. This is higher than the long-term average before 2021 but much lower than the crisis peaks we saw in 2022. In July 2025, the monthly average fell to €99.62 per MWh, or 9.96 c/kWh, showing a welcome decline. At the peak of the energy crisis in August 2022, wholesale electricity hit €388 per MWh (almost 39 c/kWh) — a record high driven largely by soaring gas costs. Here’s how wholesale electricity prices have moved in Ireland.
Prices Fluctuate
The cost of electricity for Irish businesses is constantly changing. Natural gas remains the biggest driver because so much of Ireland’s electricity generation depends on it. When gas prices rise, electricity costs quickly follow. Wind and other renewables play an important role too. When there is plenty of wind, wholesale prices usually fall, but when conditions are calm the system falls back on gas, which is more expensive. Demand also makes a difference. Electricity used during business hours costs more, while night-time rates are cheaper. Finally, global fuel markets, carbon pricing, and international events continue to have a major impact on Ireland’s electricity costs.
How Cost.ie Helps Businesses
Understanding prices is important, but what really matters is getting the best deal for your business today. That’s where Cost.ie comes in. As an independent energy broker based in Galway, we work with businesses across Ireland to make sure they never overpay. We compare every supplier on the market, identify hidden charges on bills, and advise on the right type of contract — whether fixed or flexible. We also help businesses plan ahead by showing how off-peak rates and renewable options can reduce long-term costs. Our goal is simple: to translate wholesale market trends into real, measurable savings for your business.
Insights and Resources
We’re building Ireland’s most practical energy insights hub. We provide plain-English bill explainers, calculators that show how wholesale prices compare to what you actually pay, and regular reports that track business energy costs across Ireland.
Ready to Lower Your Costs?
Wholesale prices will continue to rise and fall. The important thing is making sure your business gets the best value in the market right now. Talk to our Galway team today and see how much your business could save.