Energy supplier, Energia, has signed a new nationwide power supply agreement with the Irish Retail Newsagents Association (IRNA), the representative body of retailers and newsagents nationwide.
The contract is worth up to €7m, if all members avail of the deal with Energia.
So far over 200 members of the Irish Retail Newsagents Association have signed up the independent electricity provider.
Combined, the total annual electricity requirement of all 1,500 retailers and newsagents is in the order of 100GWh, the equivalent power usage of over 20,000 homes.
Energia supplies electricity to the business sector from its gas fired power station in North Dublin.
The energy firm currently has a 25% market share of the all-island business electricity market.
Earlier this week the company reported 62% growth in customer numbers to 8,600 in the Republic of Ireland.
Vincent Jennings, CEO, Irish Retail Newsagents Association said: "The savings our members will make with Energia will enhance their competitiveness for the future."
A member of Viridian Group, Energia sources power from the Group’s power station in north Dublin.
Viridian Group is currently investing in a second power plant in Dublin which will bring its investment in the Republic of Ireland to €500m, providing around 17 % of the State’s total electricity requirements.