Consumers may face higher electricity prices once a redesign of the Irish electricity market comes into effect in 2017, the Economic and Social Research Institute (ESRI) has warned.
Currently, the Irish electricity market is one dominated by a single firm, the ESB, whose impact is minimised through regulation and the monitoring of bids by generators.
The market is, however, being redesigned in order to comply with EU regulations regarding electricity trading, essentially how firms sell into the grid.
This redesign, which will be effective in 2017, will have implications for the manner in which competition in the market is ensured, the ESRI warns.
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