Energia latest energy supplier to announce price cuts

While energy companies have dropped their prices in recent times, critics say prices are still too high and Irish consumers are paying far more than their European counterparts for energy.

Energia has become the latest energy firm to announce price cuts, with 300,000 customers set to benefit from reduced energy bills.

Effective from March 1, electricity customers with Energia will see a reduction of 7.5% in their bills while gas customers will see reductions of 5% on their unit prices.

The company said electricity customers would save about €129 based on an average bill, while gas customers would see a reduction of about €65.

For smart meter users, they will see an average reduction of €105 a year on their bill while dual-fuel users will save about €170.

Energia makes the move after similar announcements earlier this month from Electric Ireland and Bord Gáis Energy.

While energy companies have dropped their prices in recent times, following a series of relentless hikes in the previous few years, critics say prices are still too high and Irish consumers are paying far more than their European counterparts for energy.

Energia’s managing director of customer solutions Gary Ryan said: “This latest price reduction, the second in six months, follows our 20% reduction introduced in October 23.

“This reflects our ongoing commitment to provide the best possible value and service for customers. Furthermore, we have continued our focus on innovation and energy efficiency, by offering the greater overall reduction in costs for smart-meter customers since prices began to decrease in the market.” 

With the latest figures from the regulator showing tens of thousands of customers in arrears on their bills, it has continued to urge households in difficulty to engage with their supplier on what their options are.

“While these further reductions are welcome, we will continue to provide customers who might be experiencing difficulty with support,” Mr Ryan said. 

“We continue to work with St Vincent de Paul, Mabs, Alone, as well as other charities and urge customers to always contact us to find a solution.”