Irish householders may have a little more change in their pockets after the country’s biggest energy provider announced another price cut this morning.
A full-scale energy price war is now on the cards meaning Irish consumers will get some respite from huge energy bills.
The State-owned Electric Ireland announced is also cutting its standing charge for the second time, with the new lower tariffs taking effect from March 1.
Electric Ireland is the biggest electricity supplier in the market, with 1.1 million electricity and gas customers.
Last November the ESB-owned group also decreased electricity and gas prices and its standing charges, its first cut since the energy crisis took hold.
Just before Christmas, SSE Airtricity announced a second price cut from February 1, with new player Yuno Energy implementing lower prices for the second time from last week.
The latest move by Electric Ireland piles pressure on rivals Bord Gáis Energy and Energia and a host of smaller players to now also implement a second round of cuts.
Their various reductions will mean an annual saving of €365 in electricity costs per year for households, and €328 on gas bills, Electric Ireland said.
The company’s executive director Pat Fenlon said the company was “acutely aware of the pressure many of our customers continue to experience due to the impact of international events and the energy crisis over the last two years”.
