Electric Ireland Announces Further Price Reductions for Household Energy, Effective November 1
Dublin: Electric Ireland, the country’s leading energy supplier, has announced its third round of price cuts for household electricity and gas in the past year, set to take effect on November 1. According to the company press release, electricity customers will benefit from a 3% reduction in unit rates, while those with smart meters will see reductions of up to 5%. Additionally, all gas unit rates will be reduced by 3%, benefiting 1.1 million customers across Ireland.
In a notable move, Electric Ireland also confirmed it will absorb the recently announced increase in regulated network charges, which will result in an average saving of €101 per residential electricity customer starting October 1.
This marks the third price reduction in the last 12 months, following decreases in November, January, and March. However, the substantial 58.5% price hike triggered by the energy market disruption following Russia’s invasion of Ukraine has not fully receded, with current gas and electricity prices still more than double pre-war levels.
Electric Ireland noted that further price cuts would depend on the government’s willingness to maintain the reduced 9% VAT rate on the energy sector, cautioning that any change could result in increased costs for consumers.
Irish Samachar English News
{OR} Kindly click to follow the Irish Samachar News channel on WhatsApp