Bord Gáis Energy has announced cuts to gas, electricity prices and standing charges by 15.5 per cent for its 600,000 customers.
Dual fuel customers can save up to €631 per year on Estimated Annual Bill (EAB).
The new rates are effective from November 9th for all residential customers and are in addition to any discounts that current Bord Gáis Energy customers avail of.
It means that the average gas bill will fall to €1,607, a saving of €274. The average electricity bill will fall to €1,948, a saving of €357 and dual fuel customers can expect an annual average bill of €3,555, a saving of €631.
Speaking about the price cuts, Dave Kirwan, managing director of Bord Gáis Energy, said: “Today we are announcing a reduction in our gas and electricity unit rates of 15.5%. Importantly, we are also reducing our standing charges by the same amount for all residential customers.
"We know energy costs have been hugely challenging for customers over the past two years. Whilst the energy market remains uncertain and volatile, we are happy to be in the position to pass on these reductions to our customers.
"Since the start of the energy crisis in 2021, Bord Gáis Energy has worked hard to support customers wherever it can. In recently announced company results, it posted an operating loss of €30 million as it absorbed higher energy costs over the first half of 2023.
"The company has invested in hiring additional customer care teams and launched their Energy Support Fund which to date has given out €5.2 million to the most vulnerable customers."
The price cuts follows on from the likes of Energia, Prepay Power and most recently Flogas who all announced cuts to the price of their gas and electricity.
Flogas cut prices by 30% and said it was committed to passing through recent wholesale energy price reductions to both its gas and electricity customers as winter approaches.
The price cut is the most significant yet out of all the energy providers, with some dual-fuel customers seeing a reduction of over €1,600 in their bills.
By Kenneth Fox
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