SSE Airtricity announces second price cut in three months

This latest price cut will come into effect on February 1 next year and could put pressure on other suppliers to reduce their rates as well. 

SSE Airtricity, one of the biggest energy providers in the country, has announced a further price cut 12.8% for electricity customers and 11.5% for gas customers.

This latest price cut will come into effect on February 1 next year and could put pressure on other suppliers to reduce their rates as well. It is the company’s second price cut in three months following a 12% reduction announced in September which came into effect in November.

According to SSE Airtricity, this latest reduction will see typical dual fuel customers save just over €31 a month. An electricity customer will save just over €18 a month while a customer will save over €13 a month.

The company says it has approximately 750,000 customers in Ireland.

Klair Neenan, managing director of SSE Airtricity, said the company has “stayed true to our word” as it continues to pass on savings to customers at the earliest opportunity.

“We’ve also worked hard over the last couple of years to support our customers as much as possible, with unrivalled financial supports and protections,” she said.

The result of the two rate cuts by SSE Airtricity will see a dual fuel customer save €760.91 a year, an electricity customer will save €452.77 a year, and a gas customer will save €308.14 a year.

This announcement comes as the wholesale cost of electricity continues to fall in comparison to the highs seen last year. During October, the wholesale cost of electricity was 7.8% lower than in October 2022 and September’s prices were 60.6% lower than in September 2022.

In September, numerous energy providers, including Electric Ireland, Pinergy, Bord Gais, and Energia, among others, all announced price cuts. The latest cut by SSE Airtricity could prompt similar announcements by these other companies in the coming days and weeks.