DUBLIN, Ireland: In a move to assist Irish customers, PrepayPower has become the fifth energy company to lower prices in recent weeks.
Starting November 1, gas prices will decrease by 13.5 percent, while electricity rates will drop by 12.8 percent. According to the company, for the average customer using both services, this translates to annual savings of €435.
PrepayPower, the largest pay-as-you-go provider in Ireland, boasts 180,000 customers set to benefit from these price reductions. SSE Airtricity and Electric Ireland have recently announced similar cuts.
Taoiseach Leo Varadkar welcomed the price reductions and indicated the need for further assistance from energy companies in the future. "People are really struggling with the cost of living and energy costs are a big part of that. I met with the main energy companies this afternoon and indicated to them that they must go further in future billing cycles, subject to wholesale prices not increasing again."
He emphasized the importance of helping vulnerable customers, particularly as energy consumption typically increases during winter. He revealed that energy providers have committed to offering support through their hardship funds, prompt customer service, and minimizing disconnections beyond the moratorium period.
"I understand CRU, the utilities regulator, will make a decision on this year's moratorium period shortly," he said.