ELECTRIC IRELAND HAS announced it is to cut its electricity prices for residential customers next month.

Prices will be reduced by an average of 2% from 17 November for 1.2 million customers.

The company said a typical household will save around €25 per year.

“We are happy to be able [to] reduce prices for our residential electricity customers as we approach winter,” said Jim Dollard, the executive director of Electric Ireland.

The price decrease will mean consumers will pay less for power and heating during what are typically the coldest months of the year.

Consumers have been badly hit in recent years with frequent increases in prices among domestic power suppliers.

Read: ESB has restored power to 12,500 homes… but there’s still 7,500 to go >

Read: Everyone’s favourite ESB ad gets an absolutely hilarious update >

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Good news: Electric Ireland to cut prices next month

Read: ESB has restored power to 12,500 homes… but there’s still 7,500 to go >

Read: Everyone’s favourite ESB ad gets an absolutely hilarious update >

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.