Energy prices down 12% in April

Lower wholesale gas and Brent crude prices push down energy costs according to Bord Gáís Energy Index

Lower wholesale gas and Brent crude costs helped push down energy prices, after the coldest March in 50 years drove prices to a record high. Photograph: Retuters/Nerijus Adomaitis

Lower wholesale gas and Brent crude costs helped push down energy prices, after the coldest March in 50 years drove prices to a record high. Photograph: Retuters/Nerijus Adomaitis

 

Energy prices fell 12 per cent last month after hitting a peak in March, according to the latest Bord Gáís Energy Index.

Lower wholesale gas and Brent crude costs helped push down prices, after the coldest March in 50 years drove prices to a record high. Natural gas prices also fell 16 per cent last month as supply of LNG improved.

Coal shed 4 per cent as prices fell to a three year low at the start of April, as oversupply to the European market weighs on prices.

The cost of electricity production eased in Ireland as milder weather and better gas supply to the UK helped lower costs. Brent crude oil prices also fell by 9 per cent last month.