Consumers face 'very expensive winter' despite energy price cuts

Electric Ireland said its plans for an 8% drop in electricity prices and 7% drop in gas unit rates would lead to a combined annual reduction of €264.07 for the average dual-fuel customer.

More energy companies could drop their prices within days after Electric Ireland announced a cut to its gas and electricity rates on Monday — but households have been warned they still face sky-high prices as the coldest weather of the winter so far begins to bite.

Electric Ireland said its plans for an 8% drop in electricity prices and 7% drop in gas unit rates would lead to a combined annual reduction of €264.07 for the average dual-fuel customer.