Customers save as energy firm joins price war

A FOURTH energy supplier yesterday announced price cuts – which will save thousands of customers more than €100 a year.

Ireland’s largest green energy supplier, SSE Airtricity, joined the energy price war to become the fourth utility company in a month to announce it is cutting its bills.

However, one expert dismissed the cuts as ‘far too small’ as wholesale energy prices are at their lowest in decades.

From the start of May, the cuts will save dual-fuel customers an average of €102 a year.

SSE Airtricity’s director of home energy, David Manning, said: ‘I’m pleased that we’re announcing price cuts on our natural gas and electricity standard rates. It comes at an anxious time for families across the country.’

The company has cut prices by 11.5% for more than 85,000 gas customers and 2.7% for 244,000 electricity customers.

Daragh Cassidy, of utility-switching site Bonkers.ie, said the announcement should be ‘warmly welcomed’ but added that the reduction in electricity prices does not go far enough.

‘As with previous price announcements, the price reduction of 2.7% for electricity seems far too small given recent movements on wholesale markets, and I’d expect further price decreases to be announced. However, my advice to consumers who might be disappointed by the magnitude of these price decreases is, as always, look at switching.

‘Price discounts of up to 30% for an entire year are available to people who are prepared to make the switch.’

Earlier this month, Bord Gáis Energy announced cuts to its own pricing, effective at he beginning of May, while Electric Ireland and Prepay-power are also cutting costs for consumers.