The residential market for electricity in Ireland is one of the most expensive in Europe, according to a new report which monitors the deregulation of the energy markets.

It found that Ireland is among the dearest group of countries regarding what it charges residential consumers of electricity. This group, which includes Sweden, Luxembourg and Norway, charges customers in excess of €12 per 100 kWh.

The cheapest group of countries included Greece, Spain, the Netherlands and Poland. This charges customers €9 per 100 kWH.

The report by CapGemini also said that, in general, prices were relatively stable over the period January 2003 to January 2004, with most countries showing changes in the plus or minus 5 per cent range.

"An exception to this general picture occurred in Ireland where Bord Gáis Éireann increased prices due to underlying cost pressures in 2003, following a multi-year price-freeze up to this point."

One of the report's authors, Dr Jayesh Parmer, said last night that the Irish electricity market was samll and was still opening up.