Airtricity cuts could spark price war

A price war is looming after SSE Airtricity became the second energy supplier in less than a week to announce gas and electricity price cuts.

The company has confirmed it will reduce its household prices for new and existing customers by 4% for natural gas and by 2% for electricity. The price cuts will come into effect from April 1 and will apply to around 440,000 household customers.

The move comes just days after Bord Gáis Energy will cut its domestic gas prices by 3.5% and its electricity prices by 2.5% from March 16. Electric Ireland introduced an electricity price cut of almost 2.5% in November.