Electricity & Gas Prices To Drop For Two Million Irish Households From Today

Around two million households across Ireland are set to experience a welcome reduction in their energy bills starting today. Major energy providers, including Electric Ireland, SSE Airtricity, Prepaypower, Flogas, and Bord Gáis Energy, will see electricity and gas prices decrease by varying percentages. Electric Ireland and SSE Airtricity customers will enjoy a 10% to 13.5% reduction, while Flogas and Bord Gáis Energy customers will see prices drop by approximately 30% and 15.5%, respectively, effective from November 6th.

These reductions translate to significant savings for the average consumer. Electric Ireland customers can anticipate an annual saving of just over €200 on their electricity bills, while Bord Gáis Energy customers will witness their gas bills decrease by almost €300 per year.

Although this is undoubtedly positive news, it’s important to note that energy prices this winter in Ireland will still be roughly double the normal levels, remaining among the highest in Europe. Recent data from Eurostat reveals that Irish gas prices are the fifth highest in the EU, at nearly 25% above the EU average.

Daragh Cassidy, the Head of Communications at Bonkers.ie, emphasized the relief these price drops will bring to many households, especially as winter approaches. Cassidy also mentioned that suppliers are actively competing for new customers, offering discounts to those who switch, which could lead to even more savings. Furthermore, with the entry of a new supplier, Yuno Energy, into the market, offering the cheapest electricity deal, there are more options for consumers to explore. Looking ahead, barring any unforeseen energy shocks, there is potential for prices to decrease by an additional 10% to 15% in the upcoming spring as suppliers’ hedging strategies further unwind.

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