Electric Ireland announces price reduction
Electric Ireland has announced a reduction in prices for its 1.2 million residential customers.
From November 16, their bills will come down by an average of 2%.
The savings, including VAT, amount to just over €24 a year.
The savings follow price cuts from rival suppliers Bord Gáis Energy and SSE Airtricity.
Commenting on the news, Eoin Clarke, Managing Director of Switcher.ie said: “This is a positive move by Electric Ireland and should put pressure on other suppliers to follow suit.’’
“Although these price cuts are welcomed, the average Electric Ireland electricity standard tariff customer will see their annual bill cut by just 2%.
“Wholesales energy costs, which can make up around half of bills, are at their lowest level in five years and so price reductions can and should be greater. Energy suppliers need to pass on greater savings to help consumers before winter arrives.’’
