New electricity deal is the best yet

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.”

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