The largest electricity supplier is to offer big discounts to its existing customers. Charlie Weston
Electric Ireland will offer discounts to existing customers who sign up to pay by direct debit and accept electronic billing
Electric Ireland is offering discounts worth up to €114 a year to existing customers who take gas and electricity from the company.
But they must sign up to pay by direct debit and accept electronic billing.
Customers solely receiving electricity from Electric Ireland will gain €50 a year by signing up for the deal.
The new discounts for existing customers are in addition to the 6pc cut in standard rates for Electric Ireland electricity that it is applying next month.
Energy experts said the offer to existing customers represents a new departure for an energy company.
Up to now, discounts have only been available to new customers who switch around the market.
From June all 1.3 million customers of Electric Ireland will see their bills fall when a 6pc price cut comes in.
This will save the average household €58 a year.
Now the company is offering another 5.5pc off electricity bills for those who sign up for direct debits and e-billing.
Energy expert with price comparison site Bonkers.ie, Simon Moynihan, said signing up for this will reduce bills by a further €50 a year.
Customers have to make contact with Electric Ireland by phone or online to get the new deal. Electric Ireland said the deal will then apply every year.
Those who get both electricity and gas from the company will get an 8.5pc discount by meeting the terms of the offer. This will mean total savings of €114 a year.
ESB-owned Electric Ireland has come under pressure to reduce costs after wholesale prices fell by half.