2024-01-17 01:34:34
Dublin : Electric Ireland lowers electricity rates for households in Ireland. Electricity rates will be reduced by 8% and gas prices will be reduced by 7%. The new rates will be effective from March 1. The company’s 1.1 million residential customers will benefit from this.
According to the new tariff, the annual electricity bill will be reduced by 152.78 euros and the gas bill by 111.29 euros per year. The company claims that people are getting the lowest rates in the market. This is the second cut by Electric Ireland. In September, electricity charges were reduced by 10% and gas prices by 12%. This rate came into effect in November.
Electric Ireland is Ireland’s largest energy supplier. The company has raised rates three times in 2022 and twice in 2021.
Pat Fenlon, Executive Director of Electric Ireland, said that they are well aware of the problems customers have been experiencing due to the energy crisis over the past two years. In four months, electricity prices have been reduced by 17.2% and gas prices by 18.2%.
In December, SSE Airtricity cut household electricity rates by 12.8% and gas prices by 11.5% in February. Other suppliers are also expected to announce concessions.
At the same time, CSO monitoring said electricity rates were 14.1% lower than at the same time last year. Even with this reduction, Electric Ireland’s electricity rates are 85% higher than they were before Covid-19, according to Head of Bonkers Communications, Darragh Cassidy. He also points out that its gas price is more than double the previous price.
Welcoming Electric Ireland’s announcement, Deputy Prime Minister Meehol Martin said he expected rates to drop soon. In the past two years, energy charges have soared due to the war and problems in Ukraine. “It put a lot of pressure on the families,” Martin said.
Finance Minister Meehol McGrath said the company’s action would be a big relief to families in Ireland. The minister was in Brussels to participate in the Eurogroup meeting. Energy wholesale prices are promising. Other energy companies are also expected to reduce rates, the minister added.
#Ireland #electricity #rates #drop #gas #prices #bringing #relief #million #households