Large Irish companies will have seen a reduction of 9% to 18% in their energy costs, this year, a result of a near 30% drop in wholesale gas prices.

Bord na Móna has signed a €50m deal to supply renewable electricity to Irish energy supplier Vayu who will sell the electricity on to its business customers.

Vayu is set to become the first Irish energy provider to expand into the UK gas market, where it plans to become a leading provider to corporate customers.

Wholesale gas and electricity prices have tumbled over the past year on the back of increased supplies and lower demand, according to a new report.

Warm weather and the stockpiling of gas has knocked nearly a quarter of the wholesale price of gas, according to the latest Wholesale Market Report on Irish energy prices.

A warmer-than-expected winter has helped offset some of the crisis premiums that Russia’s annexation of Crimea might have placed on the price of gas.

Broadband and television company UPC has gone green, after signing a deal with Irish energy supplier Vayu to supply their 96 metered sites with renewable energy.

Vayu has become the first Irish energy provider to supply electricity to customers entirely from renewable sources.

Flatpack giant Ikea is buying a windfarm to power its mammoth stores in Belfast and Dublin. The Swedish retailer said four large turbines in Carrickeeny, in Co Leitrim, will go into operation next year.

Retail giant Ikea is buying a wind farm to power its mammoth stores in Belfast and Dublin.

Dublin: Irish energy company Vayu has signed an exclusive €2.5m agreement to supply gas to the Dublin Airport Authority.

A NUMBER of companies were effectively paid for using electricity last month, when for the first time wholesale electricity prices fell into negative territory.

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

A new energy supply company which will supply natural gas to large industrial and commercial customers is aiming to become one of the leading players in the deregulated Irish energy sector.