Yuno said it would offer electricity on the basis of a monthly bill issued at the start of the month and based on predicted energy usage by the relevant household.
The company, which has been testing its service on a pilot basis in recent weeks, is planning a major advertising campaign to promote the business. It is the first new supplier to enter the Irish residential energy market in over three years. It also expected to enter the gas market at some stage in 2024 or 2025.
Prepaypower is the largest pay-as-you-go provider in Ireland with over 175,000 electricity and 60,000 gas customers.Daragh Cassidy said: “This is undoubtedly good news for Irish households which are currently faced with the most expensive electricity in the EU.” “An Electric Ireland customer on standard rates with a 24-hour meter and who uses an average amount of electricity would save around €260 over the year by moving to Yuno Energy’s fixed tariff for example. Bord Gáis Energy’s electricity customers would save over €400,” he said.