Statement by Electricity Association of Ireland (EAI) following meeting with the National Energy Affordability Taskforce (NEAT) this afternoon
Electricity suppliers are working hard to protect consumers from global energy volatility.
The association emphasised the fact that there is no evidence of market failure or inappropriate pricing behaviour in the Irish retail energy market. It strongly rejected so-called ‘price gouging’ claims by some public representatives and commentators as ‘incorrect and misinformed’.
The Electricity Association of Ireland (EAI) today welcomed the opportunity to engage constructively with the National Energy Affordability Taskforce (NEAT) on the critical issue of energy affordability for households and businesses.
The Association is the policy body for the industry with members including Bord Gáis Energy, Ecopower Supply, Electric Ireland, Energia, Flogas, Pinergy, Prepay Power, SSE Airtricity and Yuno Energy.
At today’s meeting, EAI outlined the role that Ireland’s competitive and highly regulated electricity market continues to play in protecting consumers from the worst impacts of global energy volatility. In particular, suppliers highlighted the effectiveness of prudent hedging strategies, which have ensured, all the way along since 2022, that Irish customers have been shielded from the sharp and immediate price shocks experienced in wholesale energy markets.
The association emphasised the fact that there is no evidence of market failure or inappropriate pricing behaviour in the Irish retail energy market. It strongly rejected so-called ‘price gouging’ claims by some public representatives and commentators as ‘incorrect and misinformed’.
Dara Lynott, CEO, Electricity Association of Ireland said:
“Suppliers operate in a robust regulatory framework under the oversight of the Commission for Regulation of Utilities (CRU), with extensive reporting, monitoring and compliance in place. This ensures transparency, accountability and strong consumer protection.
“The Irish electricity market is very competitive with suppliers entering and leaving the market. Prices go up and down, there are fixed and variable tariffs and there are cost savings available to customers through intense competition between suppliers.”
However, Mr. Lynott cautioned that Ireland remains exposed to international fossil fuel price fluctuations, particularly due to its continued reliance on imported natural gas, accounting for up to 50% of all Irish electricity generation in any given year.
“The most effective long-term solution to energy price volatility is the accelerated electrification of the Irish economy including industry, transport and heating combined with the rapid deployment of domestic renewable generation. Increasing the share of renewable electricity, alongside investment in networks, storage and system flexibility, will reduce reliance on gas-fired generation and enhance Ireland’s energy security,” he said.
EAI further outlined a series of targeted measures to support affordability, particularly for vulnerable customers. These include strengthening existing supports such as the Household Benefits Package, enhancing energy efficiency and electrification schemes, and ensuring that State interventions are carefully targeted and sustainable.
The Association highlighted the importance of maintaining a competitive market structure, that continues to deliver choice, innovation and cost-saving opportunities for consumers.
EAI stressed that empowering consumers is central to managing energy costs.
Suppliers have continued innovating through additional smart tariffs, the introduction of fixed and time of use price tariffs, and microgeneration payments. Dynamic tariffs will be launched in June 2026. These are are electricity pricing plans where the price you pay changes frequently (often hourly or half-hourly) based on real-time conditions in the electricity market.
Dara Lynott, CEO, Electricity Association of Ireland said, “Today’s engagement with NEAT was a valuable opportunity to set out the facts of how Ireland’s electricity market operates and the protections that are in place for consumers.
“While global events continue to drive volatility in fossil fuel prices, Ireland’s electricity market has shown resilience, stability and strong regulatory oversight. The path to lasting affordability lies in reducing our dependence on imported fossil fuels. Electrification, underpinned by domestic renewable energy, is the only sustainable way to protect Irish consumers from external price shocks while supporting economic growth and climate objectives.”
EAI reaffirmed its commitment to working closely with Government, regulators, and stakeholders to ensure that Ireland’s energy transition delivers both affordability and security for all consumers.
The Association also reminded all consumers of the Energy Engage Code which sets out how suppliers will help and support customers to manage their energy bills (electricity and gas). The key principle underpinning the code is a firm commitment by suppliers that they will never disconnect an engaging customer.