Figures released by the Central Statistics Office (CSO) provide further proof that consumers in Ireland are being ripped off by energy companies, according to Social Democrats TD Jennifer Whitmore.
Deputy Whitmore, who is the party’s energy spokesperson, said:
“The game is finally up for opportunistic energy companies, with the CSO confirming that wholesale electricity prices last month were 24.2 per cent lower than January 2025. In fact, they have fallen by 67.2 per cent compared with their peak in August 2022.
“But despite the dramatic drop in wholesale rates, retail prices have risen by up to 15 per cent, with consumers hit with hikes from all but one provider towards the end of 2025.
“Energy companies have been hiding behind a multitude of flimsy excuses to justify their price increases, such as rising infrastructure costs and grid upgrades.
“In response to my repeated calls for an investigation into price gouging by energy companies, Minister Darragh O’Brien claimed he had asked the Commission for the Regulation of Utilities (CRU) to undertake one. However, many months later, there is still no update as to whether this has been conducted or what progress, if any, has been made by the CRU.
“Spiralling energy costs continue to put households under severe financial strain, with the most recent figures showing that 300,000 customers are in arrears with their bills. Not only that, but we know from the most recent CRU report that there were over 187,000 customers in electricity arrears and 153,000 customers in gas arrears for more than 90 days in Q3 of 2025.
“This is no longer just anecdotal evidence – the latest CRU figures provide further proof that consumers are being ripped off by energy companies. The question is: what is the government going to do about it?”
February 24, 2026