Customers who use two fuels can reduce their Estimated Annual Bill (EAB) by as much as €631.
All residential customers will be subject to the new rates beginning on November 9 in addition to any current Bord Gáis Energy customers' discounts.
As a result, the typical petrol bill will drop to €1,607, saving €274. Dual fuel customers can anticipate an annual average bill of €3,555, a savings of €631, and the average electricity bill will drop to €1,948, a saving of €357.
Bord Gáis Energy's managing director, Dave Kirwan, commented on the price reductions in the following way: “Today we are announcing a reduction in our gas and electricity unit rates of 15.5%. Importantly, we are also lowering our standing charges for all residential customers by the same sum.”
“We are aware that the past two years have been extremely difficult for customers due to rising energy costs. We are pleased to be able to pass these savings along to our customers even though the energy market is still unpredictable and volatile.”
Since the energy crisis began in 2021, Bord Gáis Energy has made a concerted effort to assist customers in any way it can. It reported an operating loss of €30 million in the most recent financial results as it absorbed higher energy costs during the first half of 2023.
The company launched its Energy Support Fund, which has so far distributed €5.2 million to its most vulnerable customers and invested in hiring more customer service teams.
The price reductions follow similar announcements made by Energia, Prepay Power, and most recently Flogas regarding price reductions for their gas and electricity.
As winter approaches, Flogas announced a 30% price cut and pledged to pass along recent wholesale energy price reductions to both its gas and electricity customers.
The price reduction is the largest so far among all energy suppliers, with some dual-fuel customers experiencing a drop in costs of more than €1,600.