Fifth energy provider announces cut to gas and electricity charges

Another major energy provider in the Irish market has confirmed it is reducing its cost for gas and electricity customers in the coming months. 

Pay-as-you-go energy provider PrepayPower has announced that its gas unit prices will reduce by 13.5% with its electricity unit prices falling by 12.8% from November 1.

The company said that based on typical usage patterns, the reduction will mean a saving of approximately €435 a year for a typical dual fuel customer.

A typical electricity customer will save €223 in a year in electricity costs from the latest cut, according to the company.

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PrepayPower has more than 180,000 customers and is the largest provider of pay-as-you-go energy in the Irish market.

"We are delighted to announce these price reductions for our customers today," a spokesman for PrepayPower said.

"Our customers will continue to benefit from standard rates that are amongst the lowest in the market, significantly cheaper than the standard rates from many bill pay suppliers," the spokesperson added.

Taoiaseach Leo Varadkar told energy companies earlier this week that they “must go further to reduce” prices in future billing cycles.

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The Taoiseach and Minister for Environment, Climate and Communications Eamon Ryan met with Ireland’s four largest energy retailers – SSE Electricity, Bord Gais Energy, Energia and Electric Ireland – on Tuesday to express concern at “persistently high” energy prices.

Last week, SSE Airtricity announced that it would cut its electricity prices by 12% and gas prices by 10% from November 1, with Pinergy, Energia and Electric Ireland also announcing cuts.

Following the meeting on Tuesday, the Taoiseach said he indicated that these cuts should go further.

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