SSE AIRTRICITY IS to reduce residential electricity and gas prices by 12% and 10% respectively, effective from 1 November.

The price reductions will see a typical dual fuel customer save €384.55 (including VAT) per year.

All domestic Republic of Ireland gas and electricity customers will automatically have the reduced rate applied to their bills.

SSE Airtricity increased its prices a number of times last year, with the most recent being in October when residential electricity bills were increased by 35% and gas bills by 39%. 

“We hope today’s announcement will be welcome news for households as we approach winter,” SSE Airtricity managing director Klair Neenan said. 

“We’re acutely aware of the pressure people have been experiencing with the cost-of-living crisis and we recognise that this continues to be a difficult time for many,” Neenan said. 

“We recognise that volatility has impacted customers over the past number of years, and we want to provide price certainty for customers who want to manage their energy costs,” she said. 

“As always, we are here to help, and we encourage any customer experiencing difficulty with their bills to contact us in confidence – we will work with them to find a solution.”

Other companies

Electric Ireland confirmed yesterday that it is to reduce residential electricity and gas prices by 10% and 12% respectively for over 1.1 million customers, effective from 1 November.

The decreases – in both the unit rate and standing charge – equate to a saving of €17.67 per month on the average electricity bill and €18.06 per month on the average gas bill. Electric Ireland said this is based on the Estimated Annual Bill (EAB) as defined by the Commission for Regulation of Utilities (CRU). 

Electric Ireland said its residential electricity customers will save an average of €212.06 and its residential gas customers will save an average of €216.67 on annual bills.

This is a combined annual reduction of €428.74 for Electric Ireland’s dual fuel customers.

Energia confirmed last Friday that it will cut its home energy prices for customers in October. 

People on the company’s Smart meter plans will get rates cut by 20%, which is the equivalent to a €357 reduction a year. Dual fuel electricity and gas rates will also fall by 20%.

This will make an average saving of €682 a year based on the average annual bill.

Their standard electricity rates will drop by 15%, leading to a saving of €305 annually based on the average annual bill.

Gas unit rates are to be cut by 20%, with the average annual bill set to decrease by €325.

Taoiseach Leo Varadkar confirmed in July that energy supports for households and businesses will form part of the budget in October.

Speaking to reporters at Government Buildings, he said energy bills were not falling fast enough, despite the fall in inflation. 

He indicated there will be a mix of universal and targeted measures to help people with energy bills, adding that more money will also be targeted at retrofitting homes.