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Sunday 21 January 2018

Good news for the back pocket - another energy supplier cuts its prices

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Charlie Weston

Charlie Weston

Another energy supplier has cut its prices for new and existing customers.

SSE Airtricity is to reduce electricity prices by 5pc in August, and the same for gas.

The electricity cut will mean savings of €57 a year.

Gas bills will come down by €44, with those who take both fuels saving €100 over a year.

It comes on the day that Electric Ireland’s 1.3 million customers see their electricity bills fall by 6pc, knocking €57 off bills.

SSE Airtricity has around 400,000 customers.

Pay-as-you-go meter providers PrePayPower and Pinenergy have reduced their unit price for electricity lately.

The latest move will put pressure on Bord Gáis to now reduce its prices.

Wholesale gas prices, the main input for the production of domestic electricity and gas, are down 37pc in the past year.

The latest price cut comes as the energy regulator is proposing a massive rise in the levy imposed on household electricity bills to cover the cost of producing electricity from renewables, peat and to ensure security of supply.

The regulator has proposed that the so-called Public Service Obligation (PSO) levy go up by 32pc for households from October.

This would mean every household would end up paying €90 a year on the levy.

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