Energy supplier, Flogas Energy, is reducing its residential gas and electricity prices.
The company is cutting its variable rate for natural gas by 25% and its electricity variable rate by 15%.
Standing charges for gas are to fall by 10% but the electricity standing charge is to remain the same.
While the energy firm’s fixed smart rate and variable smart rate tariffs will stay unchanged.
The cuts will take effect from March 25th.
“Following on from the 30% reduction in our electricity and natural gas rates in November, we are making good on our promise to continue to deliver competitive energy prices whenever the market allows,” said Sean O’Loughlin, general manager, Flogas Energy.
“While wholesale energy markets can be unpredictable, we have continued to see a calming of this market, and it has allowed us to pass on further savings to our customers.”
Flogas has around 70,000 customers for electricity and gas.
According to the company, the changes will result in savings of €22.88 a month or €274 a year on the average variable rate electricity bill.
While natural gas customers will save €35.73 a month or €429 on the average annual bill.
Flogas is the latest supplier to reduce what it charges its domestic customers and the level of the cuts is amongst the biggest in recent months.
It follows a round of price decreases by nearly all of the energy suppliers over the past number of weeks as wholesale costs continue to moderate.
