An expert in energy has said there is “small bit of optimism” that bills will soon come down. 

In the wake of Russia’s invasion of Ukraine four years ago, western sanctions on Russian energy sent household bills soaring. 

Millions across the world were plunged into fuel poverty and Governments were forced to spend billions in energy subsidies. 

Euro banknotes by a radiator. Picture by: Alamy.com. 

This winter, for the first time since the crisis, there will be no energy credits to shield bill payers from the high cost of heating their homes. 

Despite this, UCC energy lecturer Dr Paul Dean said there is a “small bit of optimism” that bills will soon come down. 

“The outlook for international wholesale natural gas prices looks relatively good,” he explained on Newstalk Breakfast. 

“Now, that's important for us in Ireland, again, because we generate so much of our electricity from natural gas. 

“If the markets play ball and if natural gas prices reduce, that will feed directly into wholesale electricity prices in Ireland.”

A pensioner with a hot water bottle. Picture by: Alamy.com.

However, Dr Dean cautioned that there are still a myriad of things that could alter the downward trajectory of energy costs. 

“The outlook geopolitically is relatively strong,” he said. 

“And that we don't have any extreme or excessively cold weather in Europe this winter.

“If any one of those things changes, because we burn more natural gas than any other country, those changes tend to impact us more than other countries. 

“But at the moment, things are looking healthy for the short to medium-term.”

Main image: Cash and energy bills. Picture by: PA Wire/PA Images.