Wholesale electricity prices in Ireland jumped by 19 per cent last month on foot of the US-Israel attack on Iran.
However the spike in prices was limited by an increase in wind energy generation.
Wholesale electricity prices are the main determinant of domestic energy bills. So far, providers have not increased retail prices.
Figures from Wind Energy Ireland show the average wholesale price in March was €128.77 per megawatt-hour of electricity, up 19 per cent on February’s €107.97.
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This was the highest average wholesale price since March 2025 when prices averaged €131.80.
Wind Energy Ireland noted that wholesale electricity prices fell to an average of €94.20 on the days with the most wind energy while doubling to €179.10 “when we were forced to rely on expensive imported fossil fuels”.
Ireland relies on imported natural gas for about half its energy needs and is therefore highly exposed to turmoil on international energy markets.
European gas prices began to rise sharply at the end of February as tensions rose prior to the US and Israeli attacks on Iran. On April 9th, prices were 45 per cent higher than they had been on February 27th.
Wind Energy Ireland said Irish wind farms provided 41 per cent of the State’s electricity in March and – at 1,537 GWh (gigawatt-hours) of power produced – were, for the second consecutive month, the State’s number-one source of electricity.
“Last month is a clear example of how wind energy helps to protect Irish families and businesses,” said Noel Cunniffe, chief executive of Wind Energy Ireland.
“At a time when we were exposed again to the worst effects of a volatile fossil fuel market Irish wind farms halved the wholesale price of power compared to days when we had to rely almost entirely on imported gas,” he said.
“This is the world’s second fossil fuel energy crisis in less than five years. The solution is clear: build an Irish electrostate which can rely on our own clean, affordable and secure electricity supplies,” Cunniffe said.
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The State’s target of generating 80 per cent of electricity from renewables by the end of the decade is being frustrated by planning delays and the slow roll-out of offshore energy projects, according to the industry body.
Wind Energy Ireland highlighted the need to get more onshore projects through the planning system, which it said had an enormous backlog of projects with An Coimisiún Pleanála.
“There are more than 40 wind energy projects waiting for a decision from An Coimisiún Pleanála. We need decisions on them as soon as possible,” Cunniffe said.
Separate figures from grid operator EirGrid indicated that 49 per cent of electricity came from renewable sources in March, with new records for solar generation.
This was similar to the previous month when 48 per cent of energy came from renewables.
“While not summer yet, spring sunshine and a growth in solar power connected to Ireland’s grid [grid-scale solar farms] resulted in a number of solar records on the power system in March, and this trend is anticipated to continue over the coming months,” the company said.
On March 21st, a new peak for grid-scale solar was achieved contributing 983.46MW to Ireland’s electricity mix, it said.
