Electric Ireland has announced plans to reduce prices of electricity and gas for residential customers.
Electricity prices will reduce by 8% while gas prices will reduce by 7%.
Customers can expect the price cuts to take effect from 1 March. Electric Ireland has approximately 1.1 million household customers.
According to RTE, residents can save up to €152.78 on the average annual electricity bill and €111.29 annually on the average gas bill.
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The company expects theirs to be the lowest among standard electricity tariffs in the country.
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