Separately, Mr Cassidy said energy markets remained “volatile” with wholesale gas and electricity “markets still at levels that are way above normal”. We continue to engage with regulators and policymakers to urge reform for energy users, generators and suppliers across the marketplace.” The energy crisis has not gone away, and market reforms of the energy sector are still urgently required. However, the outlook on global wholesale markets continues to show inflated and volatile pricing over the medium term. He said: “With recent reductions in the wholesale costs of electricity, we are now pleased to be able to announce this price decrease.

Aided by mild weather, ample storage and efforts to source alternative supplies, European gas prices have fallen by as much as 85 per cent since August 2022, when big cuts in Russian supplies led to alarm, the Financial Times reported over the weekend.Ĭommenting on the reduction, Pinergy chief executive Enda Gunnell said the company had “previously committed to reducing electricity prices when circumstances and market conditions allowed”.

Another word for running out of time