Electric Ireland announced today that it will reduce its standard electricity unit rates for residential  customers by 6% from June 1^st  2016.   This reduction will benefit Electric Ireland’s residential electricity customers with a  saving of €57.75 (including VAT) or 5.2 % per year on an average customer bill.  

Commenting on the announcement, Jim Dollard, Executive Director, Electric Ireland said, “This is Electric Ireland’s third electricity price decrease in less than two years.  We are committed to continually offering the best value products to our customers in a very competitive energy market place. Today’s announcement is good news for Electric Ireland’s  1.2 million residential electricity customers -  it means the average annual residential bill for our customers will have reduced by more than €100 over the last 19 months.”

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Editor’s Notes:  

1. Electricity bills are made up of Electric Ireland charges (unit rates and standing charges), the PSO Levy and VAT. 
2. Electricity savings are based on CER average electricity usage of 5,300 kWh on a Residential Urban 24 hour tariff.
3. Wholesales energy prices account for less than 30% of customers’ total electricity bills.