Millions of customers to benefit from energy price cuts from today

Nearly two million customers all over the country are to benefit from price cuts from energy suppliers from today.

Charges for gas and electricity are set to be cut by unit prices and standing charges, ahead of the Government electricity credit next month.

SSE Airtricity is cutting prices for nearly 1 million customers by 10% for gas and 12% for electricity, while Electric Ireland will see prices drop by 10% for electricity and 12% for gas, for more than 1.1 million of their customers, with standing charges also being reduced, resulting in savings of €216 on gas and €212 on electricity.

PrepayPower domestic customers will benefit from decreases of 13.5% on gas and 12.8% on electricity, with other major suppliers expecting to follow suit.

Bord Gáis Energy is expected to cut prices for its 600,000 customers on November 9, with both gas and electricity dropping by 15.5%.

Flogas is set to cut its domestic gas and electricity prices by a huge 30%, which will see customers saving €780 and €900, respectively.

These price cuts are a welcome change after steep energy cost increases, but they still remain higher than they were 18 months ago, with all major companies increasing their prices due to the war in Ukraine.

More recently, these major companies have faced heavy criticism following a dramatic fall in wholesale energy prices, but for domestic customers, nothing changed.

The first energy credit from the Government of €150, in response to the cost of living crises, will be automatically applied in the beginning of December, with the next two expected in January and March 2024.