Energy provider announces 30% drop in gas and electricity charges for customers

Energy provider Flogas is the latest energy company to cuts charges to customers with an announcement of a 30% reduction today. 

They are the sixth energy provider in the Irish market to announce a reduction recently, but their reduction is by far the largest announced so far.

According to Flogas, the reductions equate to a saving of €74.58 a month on an average electricity bill for customers, or €895 a year.

Dual fuel customers of Flogas will see a reduction of €1,673 a year on their bills

Flogas said the cuts apply to all variable rate customers including smart variable rate customers.

It is estimated that Flogas has about 70,000 residential customers for electricity and gas.

The price reduction are due to come into effect on November 6.

Sean O'Loughlin, general manager of Flogas Energy said: "While wholesale energy markets remain unpredictable, we have seen a calming of volatility of late and this allows us to make these reductions".

"While these reductions will be welcomed by our customers, we are conscious that many remain vulnerable to continuing cost of living increases," he said.

"Our customer service teams are ready to talk with any customer who is having difficulty in paying their energy bill or are looking for other options to help save money," he added.

Yesterday, PrepayPower announced that its gas unit prices will reduce by 13.5% with its electricity unit prices falling by 12.8% from November 1.

The moves come after Taoiseach Leo Varadkar met with energy companies and urged them to do more to reduce charges for domestic customers.