Electric Ireland announces price cuts of up to 12%

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He said that while “unprecedented international wholesale prices have fallen in recent months, Electric Ireland’s customers were not exposed to the extremes of these prices as a result of hedging strategies” and pointed out that “wholesale gas prices remain around 300 per cent higher than they were in 2020 which is continuing to impact customer bills”.

While the price decrease will be welcomed by EI customers, energy bills will remain significantly higher than before the cost of living crisis began and began a cycle which saw domestic gas and electricity bills double for most households.

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