Post by Commission for Regulation of Utilities (CRU)

The Commission for Regulation of Utilities (CRU) has published an interim review examining competition in Ireland’s retail electricity and gas markets and the key drivers of retail energy prices. Key findings include: •Competition in the retail electricity and gas markets is functioning reasonably well, with meaningful rivalry between suppliers  •No evidence to date of excessive supplier profitability, though further analysis of specific market segments will follow  •Periods of elevated energy prices have been driven primarily by wholesale costs, pass-through charges and network investment to support a secure, low‑carbon energy system  •No significant barriers to entry for new suppliers  •Consumers have real choice and can achieve significant savings by switching  •Ireland performs strongly on domestic switching rates compared to other EU countries, though business switching rates are lower and require further assessment Further, more detailed work is now underway, with a final report to be published in due course.  The review was carried out with input from the Competition & Consumer Protection Commission (CCPC). Read the report here: https://lnkd.in/gCEyuYe3