ESB announces price cuts

ESB customers could see their bills slashed by up to 17% in a major overhaul of prices being launched by the company today.

The moves comes on the first day that the Irish energy market is fully deregulated, which it is thought could spark an energy price war.

It is estimated the ESB has lost about 800,000 customers to Bord Gais Energy and Airtricity in just two years.

Today, it begins to fight back with a new range of tariffs.

'ESB Electric Ireland' as it is now known, is launching a new range of tariffs which it claims could save customers about €190 a year.

Discounts will be available until March of next year.

However, a company spokesman has confirmed that the new rates will not apply to those whose accounts are in arrears.

They are also entering the domestic gas market, promising customers savings of up to 6% on Bord Gais prices.