Energy firms accused of 'price gouging' as international report shows they fail to pass on lower costs

"More than a million households face electricity price hikes this month as Energia, Bord Gáis and SSE Airtricity raise prices"

"Electricity companies in Ireland are failing to pass on falls in the cost of wholesale energy to consumers and businesses, a new report has found."

"The International Energy Agency (IEA) found that retail prices in Ireland are three times higher than wholesale prices - one of the highest gaps in the world."

More than a million households will face electricity price hikes this month as Energia, Bord Gáis and SSE Airtricity raise prices. Electricity companies in Ireland are failing to pass on falls in the cost of wholesale energy to consumers and businesses. Retail electricity prices in Ireland are three times higher than wholesale prices, one of the highest gaps in the world, according to the International Energy Agency (IEA). The large retail–wholesale gap means consumers and businesses are paying significantly more than underlying market costs. The price rises and gap affect household and business energy bills nationwide.

Read at Independent