Bord Gåis Energy announces another price cut for residential customers
The cuts will come into effect from 1 October.
Bord Gáis Energy has just announced its third price cut since February 2015, with a 5% cut to electricity rates and a 2.5% cut to gas rates for residential customers.
This latest move will save a typical dual fuel household €67 per year. The three cuts made by Bord Gåis Energy in the past 20 months mean that dual fuel customers are making a saving of over €150 annually.
The changes announced today will come into effect from 1 October 2016, which will be really welcome news for the company’s 650,000 residential customers as we come into the winter months. The swift implementation of this cut also means it will counter the effects of the increased PSO Levy, which is going up by €13.84 for the 2016/17 period.
Today’s announcement follows similar price cut announcements recently from two other big players in the market, Electric Ireland and SSE Airtricity.
Commenting on today’s announcement, Eoin Clarke, Managing Director of Switcher.ie, said: “A report by Vayu Energy, published yesterday, showed wholesale gas prices are down 35% year-on-year, while electricity rates are down 27%, so there is definitely scope for any suppliers who have not yet done so to reduce their prices.
“In the meantime, the biggest saving can still be made by switching suppliers - at the moment, the average dual fuel customer can save up to €360 by moving from standard rates to the cheapest deals on the market.”
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