Yuno Energy makes 8% cut to electricity tariffs

Yuno Energy is run by the firm behind Prepaypower, the pay-as-you-go provider and entered the Irish market in August.

New electricity supplier Yuno Energy has announced another cut to its tariff which it said is more than €500 cheaper than the average standard rates from other suppliers.

Yuno Energy is run by the firm behind Prepaypower, the pay-as-you-go provider and entered the Irish market in August.

The firm said its new unit rate for electricity is 28.93 cent including VAT per kWh, an 8% drop.

Following a surge in energy prices following the invasion of Ukraine by Russia, suppliers are under pressure to cut prices with wholesale gas prices falling back significantly in recent months. It is hoped price wars between firms will benefit consumers. Gas and electricity price hikes played a key part in the surge in inflation.

Cathal Fay, Yuno CEO said the price cut is a great offer, particularly for those customers who haven’t switched energy provider in over a year.

"We’ve beaten our target of attracting over 10,000 customers to Yuno Energy between our launch in August and the end of December," he said.