Energia, a leading energy provider, has announced a significant decrease in home energy prices by up to 20%, effective from October 3. This move comes as a response to criticism received by energy companies, including ESB’s Electric Ireland, Bord Gáis Energy, and SSE Airtricity, for their delay in reducing prices despite a notable drop in wholesale energy costs.
With Energia’s decision to lower home energy prices, the pressure is now on other major players in the industry to follow suit.
Energia’s commitment to providing the best value and service for customers is evident through this reduction. Customers enrolled in Energia’s Smart meter electricity plan will benefit from a 20% reduction in unit rates, resulting in an average saving of €357 per year based on the typical annual bill.
For Energia’s Smart dual-fuel customers, there will be a 20% reduction in both electricity and gas unit rates, leading to an average saving of €682 per year.
In addition, electricity customers will enjoy a 15% reduction in unit rates, saving an average of €305 per year, while gas customers can expect a 20% decrease in unit rates, resulting in a typical reduction of €325 per year based on the average annual bill.
Gary Ryan, the Managing Director of Customer Solutions at Energia Group, expressed the company’s efforts to address the challenges presented by the volatile wholesale market. The price reduction signifies a positive step, and Energia will continue to support customers in need while reviewing energy market pricing to ensure the best possible value for them in the future.
As part of the Energia Group, Energia supplies over 828,000 homes and businesses across Ireland with green electricity and natural gas. Until now, Pinergy has been the only energy company to reduce residential prices with a recent reduction of 9.5% in unit rates, resulting in an average saving of €220 per year, including Vat.
Furthermore, there is hope for consumers as the energy market undergoes a potential shake-up with the entry of Yuno Energy, a new player promising over €500 in annual savings on electricity bills by effectively monitoring energy usage at home.
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