Electric Ireland, the country’s largest energy supplier, is set to reduce its electricity and gas prices for domestic customers starting in November.
The move, which is set to benefit over 1.1 million residential customers, marks the third price cut from Electric Ireland in the past 12 months.
Most electricity customers will see their unit rates drop by 3 per cent, while those with smart meters will benefit from a 5 per cent reduction.
Gas customers will also see a 3 per cent cut in unit rates.
These price reductions will lead to annual savings of around €45 on electricity bills and €40 on gas bills for standard users.
Customers with smart meters, however, will save more, with reductions ranging between €64 and €75 per year, depending on their specific smart plan.
The changes, effective from November 1, will benefit 1.1 million Electric Ireland customers. Despite these cuts, there will be no alteration to Electric Ireland’s standing charge for energy services.
Earlier this year, the company had announced an 8 per cent reduction in electricity rates and a 7 per cent cut in gas prices, effective from March 1st.