Electricity company Pinergy has announced its lowering its prices.
It's the first price fall in the Irish energy market since 2020.
Pinergy is cutting its standard rate of electricity by almost 9% after hiking it by almost 18% only last month.
The price decrease means the firms 27,000 domestic electricity customers will save an average of €183 a year.
According to the Independent, larger players such as Electric Ireland, Bord Gáis Energy, SSE Airtricity and Energia, will find it difficult to argue that they are unable to reduce consumer prices.
Cost of Living Package
The news comes as the final details of the latest cost-of-living package will be agreed by senior coalition members this evening.
It'll be unveiled tomorrow once it has cabinet approval.
The excise cuts on petrol and diesel are expected to be scrapped, while the tourism VAT rate could rise from 9% to 13.5%
However the Social Protection Minister Heather Humphreys has hinted there could be a further one-off social welfare payment for vulnerable groups.
