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Electric Ireland announce gas price cut of 2.5%

New gas decrease will see the average household save €20.83 per annum

Electric Ireland has followed in the footsteps of Bord Gáis Energy and SSE Airtricity and announced it is reducing its residential standard gas unit rate by 2.5% from April 1st.

The price reduction applies to the firms residential standard gas unit rate, while its current gas standing charge will remain the same.

All Electric Ireland residential gas customers are in line to save money which the supplier says will result in annual €20.83 reduction on the average household bill.

The new 2.5% gas decrease will be effective from April 1st 2015 with new, existing and returning gas and dual fuel customers all able to benefit from the new saving.

Electric Ireland also introduced an electricity price cut of almost 2.5% in November 2014.

On January 22nd, Bord Gáis Energy announced it is to cut the unit rate of gas by 3.5% and the unit rate of electricity by 2.5% from March 16th (roughly €54 a year for the average household). A week later, SSE Airtricity announced it is to reduce its household prices for new and existing customers by 4% for natural gas and by 2% for electricity. The price cuts will come into effect from 1 April 2015 and will save the average household €58 per year.

Commenting on today’s announcement, Jim Dollard, Executive Director Electric Ireland said; “Electric Ireland reduced electricity prices by 2% last November and we are now happy to announce a reduction of 2.5% for over 130,000 Electric Ireland residential gas customers. This reinforces our commitment to offering the best value and exceptional customer care in a very competitive market.”

Customers urged to switch and save

Eoin Clarke, Head of Switcher.ie, said of the news: “It is great to see another large energy supplier cutting prices, the reductions will come as welcome to news to hard-pressed consumers struggling with their energy bills this winter.

“To tackle high energy costs, consumers should take matters into their own hands and shop around for a better deal. With a €307 a year difference between the average standard tariff and the cheapest energy deal on the market, consumers would be better off making their own price cut by switching.”

“Energia and Flogas have yet to announce price cuts. The question remains will they to follow the lead of Bord Gåis Energy, SSE Airtricity and Electric Ireland, and pass on some of the savings from falling wholesale prices .”

At present Electric Ireland has an estimated 22% residential market share.

Compare gas and electricity tariffs and save with Switcher.ie.