Energy supply company plans to cut price of gas

A NEW energy supply company plans to cut the cost of gas to commercial and industrial users.

Vayu, which already manages energy supply for the members of the Irish Energy Cop-operative, said it has 5.25% share of the market for large corporate and industrial users and was poised to win more market share when a further 16,000 companies can choose their supplier from next month.

Vayu said yesterday it has secured nine customers for the supply of natural gas in Ireland.

Managing director Tony Ennis said yesterday’s launch represents a major milestone for the energy sector. “Energy prices are rising across the board and we are focused on passing on the benefits of liberalisation to gas users in Ireland.

He added: “the energy sector is undergoing huge changes.”

We believe that our unique business model can ensure that these changes fundamentally work to the advantage of Irish businesses, which will help Ireland to remain competitive within the global economy.

“Businesses are increasingly going to be able to independently choose who they want to use as their gas supplier. As competition in the market increases, suppliers are going to have to become more competitive on price, which can only be good for the end user.”