Winter energy prices in Ireland are expected to reach record lows from 2027. Ireland is forecast to reach its 80% renewable electricity target by 2030 through the rollout of wind, solar and battery storage.

This, in turn, will help lower winter energy prices below the pre-2021 historical average from 2027 onwards.

The analysis was contained in the recent All-Island Power Market Outlook report published by analytics firm Cornwall Insight.

Despite the winter price forecast showing record low energy prices, summer power prices are not forecast to go below historic levels this decade, as periods of low wind leave high-cost gas playing an increased role in generation, the report found.