Bord Gáis Energy has today announced that it will cut gas and electricity prices for all customers. The prices cuts, which will take effect from 1 October, will see electricity unit rates come down by 2% and gas unit rates come down by 2.5%.
The Bord Gáis Energy price cuts will save electricity customers €19.40 per year. The gas price cut will also save customers €20.25 per year.
In addition, the PSO Levy, which all electricity customers pay, will be reduced from 1 October saving customers almost €5.
So, customers with electricity and gas can expect to see bills come down by €45 per year as a result of Bord Gáis Energy’s price cuts and the PSO Levy reduction.
At a time of year traditionally known for gas and electricity price increases, Bord Gáis Energy’s announcement is sure to be welcomed by energy customers and may put pressure on other suppliers to cut prices too.
Cheapest Standard Electricity Unit Rate
Bord Gáis Energy’s electricity price cut will mean that their standard unit rate will come down from 16.13 cent ex-VAT to 15.81 cent making it the cheapest standard electricity unit rate in the marketplace.
Bord Gáis Energy’s standard gas unit rate will come down from 5.189 cent to 5.06 cent.
Today’s announcement represents the second time that Bord Gáis Energy will cut prices in 2015. The first price cut, which took effect in March, saved electricity customers €25 and gas customers €29 per year.
Bord Gáis Energy CEO Dave Kirwan said that: “In announcing a reduction to our prices today we are doing what we said we would do in January 2015; passing on wholesale cost savings to our customers as soon as we can.”
Electricity and Dual Fuel Deals
Bord Gáis Energy is also bringing back its “€100 back off your bill whenever you need it most” promotion for new customers. This offer, when combined with its 10% electricity discount, should see customers paying €969 for a year, making it the best value electricity deal in the marketplace.
The "€100 back off your bill" is also available to customers signing up to Bord Gáis Energy's discounted dual fuel deal.
Take advantage of discount offers
Managing Director of bonkers.ie David Kerr welcomed today’s price cut announcement saying: “As we approach winter, a price reduction is good news for energy customers. We have usually seen price increases at this time of year so it’s good to see Bord Gáis Energy helping to reverse that trend.”
“I would encourage customers to take advantage of the discount offers that are available in time for winter", continued Mr Kerr. “Certainly, Bord Gáis Energy’s price cut will reduce bills, but the savings that can be made by signing up to the best deals can save households almost €340 per year compared to standard rates.”
Only 15% of energy customers switch for a better deal each year leaving around 85% of customers paying standard rates.
Bord Gáis Energy had 326,000 residential gas customers and 277,000 residential electricity customers as at 30 June 2015.
*Savings figures quoted here are based on national average consumption of 5,300 kWh electricity per year and 13,800 kWh gas per year.
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