Irish wholesale gas prices down 28% year on year
Average wholesale price of electricity for first half of 2016 down 29% on same period in 2015
Average wholesale price of electricity for first half of 2016 down 29% on same period in 2015
Over-supply of gas in Europe and lower demand prompted fall, said Vayu Energy report
Collapse in price due to ‘abundant supply’ in Europe
Irish wholesale gas prices are 26 per cent lower than 12 months ago
Prices down 9% in first half of 2015, but gas prices up 23% compared with June 2014
Despite February hike average prices are still down 27% on an annual basis
Costs are likely to drop further in the first quarter of 2015, Vayu report finds
Supply outlook positive with more shipments of liquefied natural gas
Partners in licence understood to have also relinquished holdings
European demand down 13% since January due to warmer weather
Tensions with Russia over Ukraine unrest could lead to future supply problems
Large amounts in storage in the UK, from where the Republic buys most of its gas
Weak demand and strong supplies send costs tumbling despite impact of Ukraine conflict
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