SSE Airtricity has announced domestic customers in the Republic will see their electricity and gas bills drop as they reduce their rates.
Effective from November 1st, electricity rates will decrease by 12 per cent while gas rates will see a 10 per cent reduction.
The company said the decreases will mean typical dual fuel customers will save €384.55 (including VAT) per year.
"We hope today’s announcement will be welcome news for households as we approach winter," SSE Airtricity's managing director Klair Neenan said.
"We're acutely aware of the pressure people have been experiencing with the cost-of-living crisis, and we recognise that this continues to be a difficult time for many.
"We recognise that volatility has impacted customers over the past number of years, and we want to provide price certainty for customers who want to manage their energy costs.
"SSE Airtricity is working on solutions that deliver on this promise in the coming weeks," he added.
The announcement comes a day after Electric Ireland confirmed it would also be reducing its electricity and gas rates by 10 and 12 per cent respectively from November 1st.
By Muireann Duffy
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