Energy prices are unlikely to return to low levels seen in 2020 and 2021, according to the regulator.
The Commission for the Regulation of Utilities says wholesale prices remain higher than normal.
The report, which was requested by the Minister for the Environment, Eamon Ryan, examined supplier hedging practices and pricing strategies in the energy market.
It found no evidence of windfall profits for suppliers.
Speaking after the report was released, Eamon Ryan said, "I encourage the CRU to continue to protect customers and to engage closely with suppliers with regard to further energy price reductions to ease the pressure on households across the country.
“If any customers are experiencing difficulties with their bills it is important that they contact, and keep in touch with, their energy suppliers. There are a range of supports available to help people who may be having difficulty with their bills. In addition, organisations like MABS and Alone can provide advice and support to help people manage their accounts.”
