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Electric Ireland Is The Latest Energy Company To Announce Price Cuts

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It's the first time Electric Ireland has reduced its electricity and gas prices in over three and a half years.

Electric Ireland is to cut its energy prices for customers from November.It follows a recent reduction from rivals Energia and Pinergy.Electric Ireland is decreasing its standard unit rate of electricity by 10%, and its standard gas rate by 12% from November 1st.When both reductions are taken into account, the average household could save around €212 a year on their electricity and €216 on their gas.

The company hiked its electricity prices last October by almost 40% and its gas prices by almost 50%. In August 2022, it also increased electricity prices by over 11% and its gas prices by more than 30%.It also has around 170,000 gas customers.

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