The company is the countries largest energy supplier
Electric Ireland has this morning announced its second price reduction for over 1.1 million people this winter.
It's reducing residential electricity and gas prices by 8% and 7% respectively effective from March 1st.
This means Electric Ireland’s residential electricity customers will save an average of €152.78 and its residential gas customers will save an average of €111.29 on annual bills.
Its Executive Director Pat Fenlon says the company is "acutely aware of the pressure many customers continue to experience due to the impact of international events and the energy crisis over the last two years."
The two price decreases in November 2023 and March 2024 will result in a cumulative reduction of 17.2% in electricity prices and 18.2% in gas.
Daragh Cassidy, from price comparison website Bonkers dot ie, says this second price reduction was expected:
"We saw SSE Airticity drop its prices for the second time in a few months in December, and I said then all the main suppliers would follow suit and now that's what we're seeing. I would expect the remaining suppliers like Bord Gáis Energy, Energia and Flogas to also announce similar price drops in the coming weeks."
