Taoiseach responds after energy firms accused of 'price gouging' as 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 If Government keeps giving energy credits, 'then we keep underpinning the gouging' - Taoiseach"

"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 increases this month as Energia, Bord Gáis and SSE Airtricity raise tariffs. Electricity companies are failing to pass on falls in wholesale energy costs to consumers and businesses. The International Energy Agency found retail prices in Ireland are about three times higher than wholesale prices, creating one of the largest retail-wholesale gaps globally. Continued provision of government energy credits risks underwriting persistent retailer price increases and reducing incentives to lower consumer bills.

Read at Independent