Households across the country can expect to save further on gas bills after a second price cut was announced today.
The Commission for Energy Regulation (CER) ruled gas prices are to drop by an average 9.8% while electricity will be reduced 0.2%.
The new tariffs will come into effect on October 1 – just five months after CER last slashed energy costs.
Bord Gais Energy said the average customer in a three-bedroom semi-detached house could notice almost €180 off an annual bill.
“The average consumer uses 13,800 kilowatt hours of gas a year,” said a spokeswoman.
“Last October that would have been around €916. It will now be €737.”
The approved decrease will reduce gas prices to residential customers by an average of 9.3% and to small and medium sized businesses by an average of 13.6%.
Small and medium sized enterprises will also see electricity price reductions of 0.4% and 5.5% respectively.
In May households saved 12% off gas bills – more than €100 – and 10% on electricity.
Energy Minister Eamon Ryan and said 2009 had been a good year for gas and electricity customers.
He added that electricity consumers of Bord Gais and Airtricity will enjoy further savings after they vowed to undercut the regulated electricity tariff by up to 14% when they entered the domestic market.
“They can now reduce their electricity bills by up to 25% and their gas bills by 22%,” said Minister Ryan.
“These are major savings at a time when money is tight for many people. The savings business can expect will protect jobs in this country.
“It is clear that the policy of greater competition in the Irish electricity market is yielding results for the consumer.”
But Mr Ryan warned electricity and gas bills are largely dependent on the price of fossil fuels in the international market.
“Promoting this combination of competition and renewable energy will help reduce our energy costs into the future,” he added.
“If we retain this dangerous dependence we will always be at the mercy of the international market.”