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Electricity bills down for May and 8.7% cheaper than last year
02 June 2019 @ 19:53

ELECTRICITY bills went down by 5% this month, making them a total of 8.7% cheaper than a year ago and saving the average household €5.17.

According to the National Markets and Competition Commission (CNMC), which regulates price-setting of public and private sector utilities and essential services, the typical household is on a 4.4 kilowatt (kW) supply with an annual consumption of 3,000kW per hour, or 250kWh per month, meaning May's electricity bill would be €53.74, a saving of €2.82 on that of April and of €5.17 on that of May 2018.

The wholesale energy market has also seen a reduction, with the average daily price for May being €48.40 per megawatt per hour (MWh), being 13.5% lower than in May last year and 4.2% cheaper than in April this year.

Price forecasts for the year 2020 show a guideline price of €56.08 per MWh.



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