- Electric Ireland confirms it will NOT be increasing prices for residential electricity customers, despite the recently announced increases in network charges which come into effect for all suppliers from October 1st. This will save customers an average of €101 on their electricity bill
- In addition, Electric Ireland will reduce prices for over 1.1 million residential customers from 1st November
- Smart Meter Tariff Plan customers will see a 5% reduction in the unit rate, and all other Electric Ireland residential customers will see a 3% decrease in electricity and gas unit rates
- This will be Electric Ireland’s third price reduction in 12 months, delivering a combined annual saving of €713 for dual fuel customers.
Issued at 9am, 5th September 2024
Ireland’s largest energy supplier, Electric Ireland, has today (5th September 2024) announced its third price reduction within the last 12 months for over 1.1 million residential customers. The price reductions will be applied to all existing and new residential customers and will come into effect from 1st November 2024.
Electric Ireland also confirms it will NOT pass on increased network charges to its residential electricity customers, due to come into effect for all suppliers on 1st October. The Commission for Regulation of Utilities (CRU) recently announced that regulated network charges will increase by an average of €101 per annum for residential electricity customers.
Electric Ireland Smart Meter Plans unit rates will be reduced by 5%. This higher reduction is aimed at encouraging more customers to benefit from smart meter technology, which enables them to optimise their energy consumption. These customers will see an annual decrease of between €64 and €75 depending on which Smart Meter Plan they are on.
All other Electric Ireland residential customers will see their electricity and gas unit rates reduce by 3%. These decreases mean that Electric Ireland’s residential customers will save an average of €45 on their annual electricity bill, and an average of €40 on annual gas bills.
This is a combined annual reduction of €85 for Electric Ireland’s dual fuel customers, based on the Estimated Annual Bill (EAB) as defined by the Commission for Regulation of Utilities (CRU).
Commenting on the latest price reduction, Pat Fenlon, Executive Director, Electric Ireland, said:
“Today's announcement continues our commitment to deliver value to our customers, while also supporting the transition to a more sustainable energy future. Electric Ireland will NOT be increasing prices for our electricity customers, despite the increases in network charges as recently announced by the CRU which would have resulted in an increase of €101 per annum.
We are pleased to announce that we will be reducing the electricity unit rates for all Electric Ireland customers by 3%, or 5% for customers on a Smart Meter Tariff Plan. We are also reducing our gas unit rates by 3%.
Electric Ireland remains focused on empowering our customers with competitive pricing and innovative solutions to make the best choices possible for their energy needs, and ultimately to reduce energy consumption and save money.”
Electric Ireland’s three price decreases in November 2023, March 2024 and November 2024 will result in a cumulative reduction of 19.3% in electricity prices and 20.4% in gas, delivering an annual saving of €376 and €337 on the average electricity and gas bills respectively. This is a combined annual reduction of €713 for Electric Ireland’s dual fuel customers in the past 12-month period.
Electric Ireland is aware that electricity and gas bills are financially challenging for many of our customers and offers a range of solutions to help customers including flexible payment plans, Pay As You Go (PAYG) meters, Smart Meter Plans, energy use insights and energy saving tips and advice. Visit Electric Ireland's Customer Support Hub to learn more. Customers can also manage their electricity account through the Electric Ireland app.
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