Reductions in energy prices 'could take a while', expert warns

Taoiseach Leo Varadkar said this week that the Government may announce another energy credit for households if needed later in the year, but that would be something considered in the next budget. File picture

Consumers should not get their hopes up about falling energy bills anytime soon despite pressure on firms to cut prices, a financial expert has said.

Earlier this week, Pinergy announced a drop in its prices that will result in consumers saving around €180 a year. It is the first price drop announced by an electricity supplier in more than two years.