Ireland’s cheapest electricity supplier was undercut yesterday just days after it entered the electricity market.
Energia has undercut newcomer Panda Power, and says it will save customers nearly €400 a year. Energia is cutting prices by 20 per cent, saying that the new deal is the equivalent of a day’s free energy a week.
Simon Moynihan, of price comparison website bonkers.ie, said: “It’s a very good offer. Panda Power launched into the energy market last week and they set out to be the cheapest electricity provider. They came a few hundredths of a cent cheaper than Energia’s best electricity offer. Energia when they saw that Panda’s offer, threw in an extra 1 per cent in terms of a discount.”