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Bord Gáis Energy announce plans to cut the unit rate of gas by 3.5% and electricity by 2.5%

22.01.15

Bord Gáis Energy is to cut the unit rate of gas by 3.5% and the unit rate of electricity by 2.5%, reducing the average household energy bill by €54.38.The new rates will mean that Bord Gáis Energy will have the lowest standard unit rate in the Irish market for gas and electricity.

The changes will come into effect from 16th March 2015 for residential gas and electricity customers. The reduction in the gas price represents a saving of €29.47 on the average customer bill, while the reduction in the electricity price represents a saving of €24.91 on the average bill.

The drop in prices comes from an on-going review of reduction in wholesale energy costs. We purchase gas over a year in advance on a staged basis to ensure price stability and achieve a smoothing out of market volatility for our customers.

Dave Kirwan, Chief Operating Officer, Bord Gáis Energy said:

"We are constantly reviewing our pricing to make sure we offer the best value to all our customers, and help them manage their energy bills. With the reduction in international wholesale energy costs, we now have the opportunity to drop our prices in both gas and electricity and we are happy to be able to do so. We will continue to monitor wholesale and other costs and should further savings occur we will seek to reflect that in our prices.

I am also happy to confirm those customers who signed up to our new fixed rate products in gas and electricity will benefit from these reductions also."

For further information, please contact:

Gerry O'Sullivan,
Q4 Public Relations
Tel: 087 2597644 / 01 4751444

Nuala Buttner,
Q4 Public Relations
Tel: 085 1744275 / 01 4751444

Price Change FAQ's

As the helpful energy company we are happy to announce a price decrease for ALL of our Residential Gas and Electricity customers. For residential gas customers unit rates will decrease by 3.5% and for residential electricity customers unit rates will decrease by 2.5%.

We have recently launched our fixed rate products which are available until February 13th and we recommend you lock in these lower prices in gas and electricity so that you can guarantee no rises for the next 12 to 24 months. Find out more about our fixed rate plans here.

How much is the reduction off an average Gas bill?

The average gas bill will reduce by €29.47 per year*

How much is the reduction off an average Electricity bill?

The average electricity bill will reduce by €24.91 per year*

How much is the reduction off an average Dual Fuel customer?

The average saving will be €54.38 per year*

Where does this position Bord Gáis Energy in the gas and electricity markets?

The new rates will mean that we will have the lowest standard unit rate in the Irish market for residential gas and electricity customers.

I am on a fixed rate plan, will I benefit from these changes?

Yes, if you sign up to a fixed rate plan before February 13th 2015 your rates will automatically decrease proportionately on 16th March.

In addition, if there are any other rate decreases before May 31st you will be eligible for the prevailing rate to be applied. If there are any rate increases you will not be impacted. Find out more about our fixed rate plans here.

I am on a 1 or 2 year variable contract, will I benefit from these changes?

Yes, of course your rates will automatically decrease proportionately on 16th March. You need take no action.

How do you arrive at this particular discount?

The energy being used by our customers today has been bought over a year in advance so as to reduce the risk of price volatility for customers. We are now seeing benefits from this reduction in wholesale prices and we are happy to pass these on to our customers.

What action do I need to take to receive this reduced rate?

Customers need take no action. The reduced rates will be applied from 16th March and will automatically apply to bills.

Will the Standing Charge change?

No, there is no change to the standing charge on gas and electricity

Will PSO on electricity bills or Carbon Tax on gas bills change?

No, these are government levies that we collect on behalf of Revenue (similar to VAT).

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**Calculations based on:
13,800 kWh for gas
5,300 kWh for electricity