Households around the country can expect to see lower energy bills from Wednesday as changes from suppliers kick into effect.
With winter just around the corner, energy consumption is expected to rise, with the cost of living on everybody’s mind. While the Government did announce a spate of energy credits for eligible households nationwide to help with this pinch, the cost of electricity is still quite high.
Thankfully, beginning on November 1, multiple energy companies have adjusted their prices to better assist consumers who are struggling with the financial burden of increased energy costs during colder months.
Electric Ireland had previously announced that prices would be slashed by 10 per cent for electricity and 12 per cent for gas bills respectively. This means customers stand to save up to €212.06 on their average annual electricity bill with the new change.
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SSE Airtricity customers will see a cut of up to 12 per cent on domestic electricity prices and 10 per cent for gas.
PrepayPower has decreased its unit rates by 13.5 per cent for gas and 12.8 per cent for electricity.
In a statement, Electric Ireland acknowledged the challenges that consumers have faced over the last two years regarding rising energy prices.
Electric Ireland's Executive Director Pat Fenlon said: "We know that the last two years have been particularly hard for our customers, given the impact of much higher energy prices following the Russian invasion of Ukraine.
“Wholesale gas prices remain 300 per cent higher than they were in 2020 which is continuing to impact customer bills.”
RTÉ reports that other major gas and electricity suppliers in Ireland are expected to announce further cuts over the coming days, including Flogas Ireland and Bord Gáis Energy.
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