The Ukraine-Russia transit deal's expiration has exacerbated the energy crisis in Europe just as winter temperatures are set to plunge, causing fears over gas supply shortages.
Electricity prices in Ireland remain among the highest in Europe, still 70-80% above pre-crisis levels, indicating a persistent financial strain on consumers borne out of the ongoing conflict.
Analysts predict that while wholesale gas prices may eventually stabilize, retail prices for consumers in Ireland will not see significant decreases in the medium term.
Reflecting on the current situation, Daragh Cassidy emphasized that the ongoing crisis coupled with cold weather conditions is likely to sustain high energy prices for the foreseeable future.
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