Electricity prices halved on recent windy days

Wholesale electricity prices in Ireland have halved on recent windy days, dropping from €179 to €94 per megawatt hour, according to the Climate Change Advisory Council (CCAC). The council urges the Government to accelerate the supply of renewable energy, warning that continued reliance on imported fossil fuels keeps electricity bills high. Despite the clear cost benefits of wind and solar power, the development of new renewable projects has slowed, with many wind farms stuck in prolonged planning delays. The CCAC highlighted that no new wind farms received planning permission in the first quarter of the year, and 15 projects have been awaiting decisions for over a year, with six delayed for more than two years. Grid infrastructure is also insufficient, causing around 10 percent of wind power generated last year to be wasted due to transmission constraints. The council recommends classifying the electricity grid as critical infrastructure to fast-track related projects through the planning system, aiming to reduce dependence on imported gas and oil and shield the country from volatile global energy markets. Last year, new wind and solar projects added 800 megawatts to the grid, but at least 2,000 megawatts are needed annually to meet renewable energy targets. Even with new capacity, rising demand from data centers has offset gains, preventing significant displacement of fossil fuel use. The CCAC warns that electricity prices are likely to rise further amid soaring oil and gas costs driven by the Middle East conflict, exacerbating energy poverty for the 319,000 customers currently in arrears on their bills. To address these challenges, the council calls for targeted energy supports focused on the root causes of high costs rather than broad subsidies. It also recommends expanding rooftop solar panel installations to empower households and reduce reliance on imported fuels. The CCAC’s warnings underscore the urgent need for policy action to build renewable capacity, upgrade grid infrastructure, and protect consumers from ongoing energy price volatility.