Electric Ireland sparks price war with 5% cut in gas costs

Consumers are set to benefit from an energy price war after Electric Ireland announced a 5% cut in residential gas prices.

The move by one of the biggest players in the energy market comes two weeks after Bord Gáis announced similar reductions in its gas and electricity prices.

Electric Ireland said that its latest cut in residential gas prices — its third in 18 months — is mainly as a result of “favourable adjustments” to the wholesale cost of gas.