“This is obviously welcome news and yet another sign of some normality returning to the energy market,” said Mr Cassidy in a statement. “This reduction now makes them one of the cheaper suppliers – if you could use that word in today’s market. But its prices are still around 8 per cent above Electric Ireland’s – the biggest electricity supplier in the market.”
Aided by mild weather, ample storage and efforts to source alternative supplies, European gas prices have fallen by as much as 85 per cent since August 2022, when big cuts in Russian supplies led to alarm, The Financial Times reported over the weekend. He said: “With recent reductions in the wholesale costs of electricity, we are now pleased to be able to announce this price decrease. However, the outlook on global wholesale markets continues to show inflated and volatile pricing over the medium term. The energy crisis has not gone away, and market reforms of the energy sector are still urgently required. We continue to engage with regulators and policymakers to urge reform for energy users, generators and suppliers across the marketplace.
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Pinergy becomes first energy provider to cut pricesEnergy provider Pinergy has become the first energy supplier here to reduce its prices since elevated wholesale costs began to fall on international markets. Sudden magic. Where's the regulators. International markets dropped ages ago. These companies are robbing us blind. I bet they won't go back to the old normal price. There will be a new high average price. A good PR move with the recent bad PR prepay meter installations have been getting.
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