Cost of living: Thousands of households to see drop in gas and electricity prices from today
SSE Airtricity, one of Ireland's largest electricity providers, has slashed its prices by 10 per cent
Thousands of households all around the country will see their gas and electricity prices drop as part of the latest cut by an electricity provider in a move that is expected to pressure other suppliers.
Customers of SSE Airtricity who are on variable tariffs will see the cost of their gas and electricity fall by another 10 per cent from July 1. The price cut will see the average SSE customer save around €150 a year on their electricity costs and just over €100 a year on their gas.
It’s the supplier’s third price decrease in less than a year meaning its energy prices are now around 30 per cent lower than they were at the height of the energy crisis two years ago.
The decrease has been made possible by falling wholesale gas and electricity prices. Monday’s news will benefit around a quarter of a million electricity customers and 90,000 gas customers. It’s expected that all the other main suppliers will respond with similar price cuts by the end of the summer.
“It’s good to see energy prices continue to creep back towards more manageable levels,” Darragh Cassidy, Head of Communications at Bonkers said.
“Yet despite the latest price drop, SSE’s third in under a year, its electricity prices are still around 70 per cent higher than they were before the energy crisis broke out while its gas prices remain around 80 per cent higher.
“This means households will still be paying around €1,000 a year more for their gas and electricity than they were only a few years ago. So energy costs will remain a concern for many households for the foreseeable future.
“There's been a somewhat muted response from SSE’s main competitors so far. But I’d still expect the other main suppliers like Electric Ireland, Bord Gáis Energy and Energia to also cut their prices for existing customers by a similar amount over the coming weeks.
“There's been much more activity in the acquisition space however and for those who switch there are some excellent deals and discounts on offer right now to new customers."
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