More than 700,000 customers impacted as SSE Airtricity cuts prices by up to 12%

Combined, typical dual-fuel customers will save up €384.55 annually, with new reductions coming into effect on November 1st

SSE Airtricity provides energy to more than 700,000 homes across the island of Ireland and follows moves from the country's largest energy provider, Electric Ireland, who yesterday announced price cuts of up to 12% for residential customers.

SSE Airtricity is the fourth energy supplier to cut prices for Irish customers, following recent reductions from Electric Ireland, Pinergy and Energia.

Effective from November 1st, SSE Airtricity will decrease its standard unit rate for electricity by 12%, with its standard unit rate for gas dropping by 10%.

Combined, typical dual-fuel customers will save up €384.55 annually, with all Irish customers having the reduced rate automatically applied to their bills.

The energy provider has not announced any change in its standing charge. 

SSE Airtricity provides energy to more than 700,000 homes across the island of Ireland and follows moves from the country's largest energy provider, Electric Ireland, who yesterday announced price cuts of up to 12% for residential customers.

Effective from the 1st of November, Electric Ireland residential electricity prices will be cut by 10%, with gas prices to fall by 12%.

The reductions in both the unit rate and standing charge will equate to a saving of €17.67 per month on the average electricity bill and €18.06 per month on the average gas bill.

This is a combined annual reduction of €428.74 for Electric Ireland’s dual fuel customers.

The move also follows recent price cuts from Pinergy and Energia, putting further pressure on remaining suppliers to follow suit.

Last year, SSE Airtricity was the first supplier to announce it would forego profits in favour of supporting customers during the cost-of-living crisis.

The provider also said that it would introduce a new fixed tariff product in the coming weeks that will provide price certainty for customers who wish to avail of it.

“We hope today’s announcement will be welcome news for households as we approach winter," said Klair Neenan, Managing Director of SSE Airtricity.

"We're acutely aware of the pressure people have been experiencing with the cost-of-living crisis and we recognise that this continues to be a difficult time for many." 

'Not enough'

"We recognise that volatility has impacted customers over the past number of years, and we want to provide price certainty for customers who want to manage their energy costs."

Speaking yesterday, Taoiseach, Leo Varadker welcomed the energy market's recent price cuts, however, he said he didn't believe it is "going to be enough." 

"I plan to meet with energy companies and really put to them by view that there should be further reductions over the next few months," said the Taoiseach.

"I think we have got tough with them (energy providers), and that is exactly what the windfall tax is. It is an additional tax on the profits of energy companies that are making a lot of profits at the moment."

In addition, Mr Varadker said two things were going to happen, adding, "People are going to see the companies bring their prices down. That is underway. And they are also going to see the Government doing some things in the Budget to help people with their energy costs."