ENERGIA has fired the latest salvo in Ireland's electricity and gas price wars - that can save hardpressed householders as much as €432 a year, writes Christian McCashin.
The company yesterday launched a new dual-fuel bundle to encourage electricity and gas customers to switch to them.
The offer starts from tomorrow at the same time as a new Bord Gais gas and electricity deal, and an Electric Ireland gas price cut. Meanwhile other suppliers have already cut prices.
The new Energia saving comprises a 16% reduction on electricity and a 15% cut on gas, which comes to an annual cut of €282. They are also being promised €250 cash back, bringing the total savings to €432.
The company also launched a similar retention discount "to keep its existing 114,000 customers. This is made up of an 18% discount for electricity customers and a 17% discount for gas customers.
Simon Moynihan, of price comparison site bonkers.ie, said: 'The new dual-fuel deal is good value and will save customers money. If you're an average household, it'll cost €1,756 for a year when you include the €150 cashback. That's €311 cheaper than the standard rates most customers are paying."
Consumers' Association of Ireland chief Dermott Jewell said: "The offers are very, very welcome, the only challenge to the consumer now is to take a little bit of time to do their homework and pick the one that suits them best. The key is not to lock yourself in for too long but beyond that, it's welcome, it's positive and about time."
Energias marketing boss Geoff Codd said the company wants to encourage as many people as possible to switch to it. We have consistently provided the best value electricity and gas bundle since 2014 and that's why over 100,000 Irish households have switched to us, he said. "Our new dual-fuel discounts and cash-back offers mean that for both switchers and existing customers we remain the top choice for home energy."
The best dual-fuel deal on the market appears to be a combination of Energia's Clever Electricity, saving more than €206 a year, with Flogas' 20% Direct Debit Discount, saving consumers up to €141.77 a year, making a total bill of €1,699.33.
The annual costs are based on average use amounts worked out by the energy regulator CER. Little more than two weeks ago, Electric Ireland announced it was knocking another €40 off an average customer's annual gas bill just in time for peak winter demand.
A price cut by PrePayPower.ieie will start today, as will the increase in the Public Service Obligation Levy to €6.70 a month. The PSO levy is to support security of energy supply.
SSE Airtricity cut its prices on August 1. A spokesman said:
"While some other suppliers have yet to pass on cuts in energy costs to loyal Customers through reductions in their standard prices, at SSE Airtricity we cut our standard gas and electricity prices by 5% on 1 August, saving all of our 400,000 new and existing home energy customers up to €101 annually."