The energy provider has stated that it will reduce gas and electricity costs by 7% and 8%, respectively.

Gas and electricity standing charges will also be lowered by the same amount.

The pricing adjustment will go into effect on March 1st.

As stated by Bonkers.i.e, the savings will result in an annual savings of €111 on gas and €153 on electricity for the average home.

In the State, Electric Ireland is the biggest energy provider, serving more than 1.1 million electricity and roughly 170,000 gas consumers.

The supplier declared a 10% reduction in energy prices and a 12% reduction in petrol prices in November. As the cost of wholesale energy decreased towards the end of the previous year, other suppliers made comparable price reduction announcements.


Executive Director of Electric Ireland Pat Fenlon responded to the statement by stating that the firm is "acutely aware of the pressure many of our customers continue to experience due to the impact of international events and the energy crisis over the last two years".

"Today's announcement will offer further savings for our consumers, resulting in a lowering of 17.2 percent in power and 18.2 percent in petrol costs within a 4-month period. This is in addition to the 10% and 12% reductions that occurred in November of last year.

"This will mean a saving of circa €692.81 per annum," he stated.