Despite significant international pressure on gas prices throughout 2022 and a commitment by most EU member states to reduce gas consumption, gas use remains high in Ireland.

The latest figures from the European Commission show that by the second quarter of 2022, Ireland was the only EU member state to increase gas consumption year on year by 6.4%.

At the beginning of the second quarter of 2022, EU gas consumption fell steeply by 16% year on year. Gas demand in electricity generation also fell by 7%.

Quarter three

The latest figures from Gas Networks Ireland for the third quarter of the year, from July until the end of September, show that gas demand increased by 10% when compared with the same period last year.

This was despite a mostly mild September, which saw above average temperatures in many parts.

This is partially explained by Ireland’s reliance on gas to generate electricity. Gas generated 60% of Ireland’s electricity in quarter three, up 11% on the preceding three-month period.

Gas generation peaked at 92% during that period and never dropped below 16%.

While wind energy’s average contribution to the electricity mix increased by 22% from the same period last year, it fell by 31% compared to quarter two.

Over quarter three, wind energy’s contribution ranged from 74% to less than 1%, while coal contributed 11%, peaking at 21%, with a low of less than 1%.

Gas prices

Gas prices have fallen dramatically this week driven by unseasonably warm weather reducing domestic demand and stronger than expected stock positions in the EU.

Values fell to €32.51 per megawatt hour (€/MWh) on Tuesday, having been as high as €204.54 MWh on 28 September.