Electricity and gas prices for hundreds of thousands of Irish households is to fall marginally in the New Year some companies start passing on some of the savings made as a result of low international energy prices.
Electricity prices for SSE Airtricity customers will fall by 2 per cent from the middle of January which will see €23 knocked off the average annual bill of more than 340,000 customers. It could spark a price war as other providers will be under pressure to follow suit.
The price cut, which applies to the company’s unit rates and standing charges, comes on the back of a similar cut in April which means that in the last year it the average prices of an Airtricity bill has fallen by around €50.
Meanwhile, Electric Ireland announced that it will reduce its standard gas unit prices for residential and SME business customers by 2.5 per cent from the beginning of next year.
The reduction will see residential gas customers save an average saving of €20.22 It is Electric Ireland’s second residential gas price decrease this year.
Minister of Energy Alex White welcomed the two announcements and said it was “an indication that competition is working for customers.”
He said it was “hugely important that consumers shop around to ensure that they get the best possible price and service deal and I would encourage them to do so. There are many value offers in the market from suppliers, including significant discounts.”
