Price of gas 'drops by more than 20%'
Wholesale gas prices are down an average of 22% since this time last year, it's claimed today.
The latest wholesale energy market report by business supplier Vayu said the fall was down to healthy supply, decreased demand and a fall in oil prices.
And prices were down 10% month-on-month as August is the period of lowest demand over the year.
Gillian Lawler, senior energy analyst at Vayu, said that abundant supply continues to be the main driver of gas prices for delivery next month, and there may be a further downside to winter prices as sterling continues to perform poorly against the euro.
The average wholesale price of electricity in the Irish market was down 11% compared to August last year and 1.2% on July.