Electric Ireland announces second round of price cuts

The firm last cut its rate in September

The cuts will take effect from March. Picture: Getty

Electric Ireland will reduce its electricity prices by 8 per cent and its gas prices by 7 from March 1 for its 1.1 million residential customers.

The cuts will apply to both unit and standing charges, according to the company. It said customers can expect average annual savings of €152.78 on their electricity bills, and €111.29 a year on their gas bills.

In September, Electric Ireland announced that it was reducing domestic electricity charges by ...