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Bord Gáis Energy drops electricity and gas prices again

30.08.16

Announcement marks the third consecutive price drop in 20 months. Lowest standard electricity & dual fuel prices in Ireland. Average annual dual fuel bill to fall by a further €67.

30 August 2016: Great news for Bord Gáis Energy’s 650,000 household customers who will benefit from the company’s third consecutive price drop in 20 months.

Bord Gáis Energy has today announced a 5% drop in its electricity unit rate and a 2.5% drop in its gas unit rate, meaning the company will offer the lowest standard electricity and dual fuel prices in Ireland. The move will save a typical dual fuel household a further €67 per annum.

The changes will come into effect from 1 October 2016 for residential gas and electricity customers, ahead of the winter period.

Bord Gáis Energy is the only supplier to reduce both gas and electricity unit rates three times in the past 20 months. The combination of these three price drops will mean a saving of €156 for a typical dual fuel customer since February 2015. In addition, Bord Gáis Energy continues to offer existing customers an ongoing 5% discount for payment by direct debit and paperless billing.

There are a number of factors that make up the cost of energy; wholesale costs account for approximately one third of the bill, one third is the cost of getting energy to a customer’s home and the rest is made up of taxes and supply charges. The CER recently approved increases in network costs for electricity, which affect all suppliers, and today Bord Gáis Energy confirmed it will absorb these increases over the winter period.

Today’s announcement is another example of Bord Gáis Energy's focus on helping customers get more for less and will also minimise the impact of the latest increase in the Government PSO levy.

Dave Kirwan, Managing Director of Bord Gáis Energy said, “Winter is a time when many people face increases in the cost of living and we’re focused on helping our customers keep costs down as much as possible. For most of the past five years1 our customers have paid the lowest standard electricity and dual fuel unit rates in Ireland and today’s announcement means they will continue to do so this winter. We can’t control every part of the cost of energy but we promise to do our bit to lower prices when we can.”

"At Bord Gáis Energy, we not only want to offer great prices but also want to help our customers use less energy. We have a range of energy saving devices, including Hive Active Heating which allows you to control your heating and hot water from your phone, designed to lower customers’ energy bills further."

Price Change FAQ's

How much is the reduction off an average gas bill?

The average gas bill will reduce by €19.80 per year*


How much is the reduction off an average electricity bill?

The average electricity bill will reduce by €47.50 per year*


How much is the reduction off an average dual fuel customer?

The average saving will be €67.30 per year*.


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

Bord Gáis Energy will offer the lowest standard prices in Ireland for electricity and dual fuel.


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

Customers who signed up to fixed rate product are already enjoying the lower standard unit rates.


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

Your rates will automatically decrease from 1 October 2016. You do not need to take any action.


How did you arrive at this particular discount?

The energy being used by our customers today has been bought over a year in advance. This insulates our customers from short term pricing volatility. We are now seeing benefits from reductions in wholesale prices and we always pass these on to our customers.


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

Standard rate customers don’t need to take any action. The reduced rates will be applied from 1 October 2016 and will be automatically applied to your bill.


Will the Standing Charge change?

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


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

The Public Service Obligation Levy is a government subsidy that is charged to all electricity customers. The Commission for Energy Regulation recently announced that the PSO Levy will increase for all households and businesses from 1 October 2016. The latest increase will be finalised on the 31 August 2016 by the CER


* Average savings quoted are per annum and are VAT inclusive. Electricity savings are based on average electricity usage of 5,300 kWh on a Residential Urban 24 hour tariff. Gas savings are based on average gas usage of 13,800 kWh as per CER. Savings quoted are based on annual average usage but actual savings will depend on actual usage. Lowest standard electricity and dual fuel prices in Ireland based on competitor prices on 26/08/16 and Bord Gáis Energy prices on 01/10/16.