Surprise move as Electric Ireland cuts gas prices, leaves electricity unchanged

"Electric Ireland said its residential gas prices will decrease by 4pc from November 1. Standing charges for gas are also going down by 4pc. Its residential electricity prices will remain unchanged for its more than a million residential customers. Electric Ireland said it remains committed to providing ongoing value to its customers. The gas cut equates to a €58 saving a year on the average gas bill, the ESB-owned company said. Electric Ireland said this means its gas standard variable tariff will be one of the most competitive on the market."

"Electric Ireland said the cut was the fourth consecutive decrease for residential gas customers since November 2023 This means has led to a cumulative reduction of 23.6pc, and savings of €390 (excluding VAT and carbon tax) on the average annual gas bill. Residential electricity unit rates and standing charges will remain unchanged. Since November 2023, Electric Ireland has reduced residential electricity unit rates three times. It said this has delivered a cumulative reduction of up to 19.34pc, and savings of up to €376 (excluding VAT and PSO levy) per annum."

"Executive director at Electric Ireland Pat Fenlon said: "We are acutely conscious of the financial pressures facing our customers and we believe today's announcement will provide improved value for Electric Ireland customers as we face into the winter.""

Electric Ireland, an ESB-owned supplier with 1.1 million customers, will cut residential gas prices by 4% from November 1 and reduce gas standing charges by 4%. Residential electricity unit rates and standing charges will remain unchanged for over one million customers. The gas cut equates to about €58 annual saving on the average gas bill and follows three prior gas reductions since November 2023, delivering a cumulative 23.6% reduction and roughly €390 in annual savings (excluding VAT and carbon tax). Residential electricity rates have been reduced three times since November 2023, totaling up to 19.34% and up to €376 saved annually. The move contrasts with price rises announced by Energia, SSE Airtricity and Flogas and arrives amid rising household arrears and government decisions on energy credits.

Read at Irish Independent