Irish energy supplier Energia has announced a price reduction on electricity and gas supplies for its 300,000 customers. This marks the second rate cut in six months, with the last reduction of 20% announced in October of last year. The price cuts will take effect from 1 March 2024 and will result in a 7.5% decrease in unit rates or €105 per annum on the average Smart Meter Electricity annual bill and a 5% decrease or €65 per annum on the average gas bill. For Dual Fuel customers, this represents a net saving of €170. Customers on the Energia Electricity plan will also benefit from a 7.5% reduction on unit rates, amounting to an average of €129 per year on their bills.
Gary Ryan, Managing Director of Customer Solutions at Energia, expressed the company’s commitment to providing the best value and service to its customers. He highlighted the focus on innovation and energy efficiency, particularly for smart meter customers who have seen the greatest reduction in costs since prices began to decrease in the market. Ryan also emphasized that Energia continues to work with various charities to support customers facing financial difficulties.
Energia is supporting the 1.4 million next-generation smart meters already installed in Ireland, which enable accurate billing, access to energy management solutions, and new energy services through the Energia App. This helps households reduce their carbon footprint.
In addition to Energia’s price reduction, other energy suppliers in Ireland have also announced cuts. Bord Gáis Energy will reduce electricity unit rates by 10%, gas unit rates by 9.5%, and standing charges by 8%, effective from 29 February this year. Electric Ireland has also lowered its energy rates for its 1.1 million customers. Despite these reductions, energy costs remain high due to price volatility resulting from the war in Ukraine. However, experts anticipate further price reductions later in the year.
In conclusion, Energia’s price reduction on electricity and gas supplies will benefit its 300,000 customers. With the second rate cut in six months, the company continues to prioritize customer value and service. Alongside other energy suppliers, Energia is taking steps to support customers and promote energy efficiency in Ireland.
