Pay-as-you-go energy provider PrepayPower is the latest energy company to announce price cuts for its gas and electricity customers, reports RTE.
PrepayPower announced that gas unit prices would decrease by 13.5% from November 1, while electricity unit prices would decrease by 12.8%.
The company said that, based on typical usage patterns, the reduction will result in a saving of around €435 per year for a typical dual-fuel customer.
PrepayPower has over 180,000 customers and is the largest pay-as-you-go energy provider in the Irish market, reports RTE.
“We are delighted to announce these price reductions for our customers today,” a spokesman for PrepayPower said, reports RTE.
“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,” he added, reports RTE.
At a meeting with Taoiseach Leo Varadkar and Energy Minister Eamon Ryan earlier this week, the four biggest energy companies were asked to continue their price cuts.
The two ministers met with the four largest suppliers: Electric Ireland, SSE Electricity, Bord Gáis and Energia.
Some suppliers have announced price reductions of between 10 and 20% in recent weeks.
The final work will begin in October and November, reports RTE.
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