Reprieve for customers as Bord Gáis to freeze energy prices until February
The company, which offers the cheapest standard electricity rate in the Irish market, confirmed prices would remain unchanged until February.
The announcement comes after price hikes of between 1.7% and 3.5% have been announced by Airtricity, Electric Ireland, Prepaypower.ie, and Pinergy in recent weeks. However, Electric Ireland said it would not implement the rises until Jan 1, when an average hike of 1.7% will kick in.
Managing director of Bord Gáis Energy, Dave Kirwan, said the company was determined to keep its prices the lowest in the Irish market.
“We understand energy costs are a key concern for customers coming into winter which is why we’re freezing our residential electricity prices, which are already the lowest standard prices in Ireland,” said Mr Kirwin. “Our customers can be reassured that whatever happens to wholesale costs we will continue to ensure that our standard prices continue to be the lowest of any supplier in the market.”
Head of uSwitch.ie, Eoin Clarke, welcomed the price freeze, saying it would be a piece of good news for consumers over the winter months.
“This price freeze will affect about 310,000 domestic electricity consumers and offer them some reassurance over the winter months,” said Mr Clarke. “It shows that competition is heating up in the market place. Any price freeze is welcome but it is delaying the inevitable really.”
Mr Clarke said the average energy bill stands at approximately €2,159 and has risen by €500 in the last three years.
“Now is the time for people to switch to the most competitive provider,” said Mr Clarke. “You can save about €257 per annum by switching from the most expensive tariff to the cheapest.
“Figures from the Commission for Energy Regulation show the switching rate at about 14%, so it’s clear that there are people out there who have not switched that could be paying more than they should be.”
