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Yuno Energy is cutting its electricity rates for new customers from today for the fourth time this year.
The new rate is 3.4% lower than the previous rate, making it the cheapest unit rate in the market. The company says the rate is fixed for 12 months and will not change no matter what happens in wholesale energy markets.
Yuno Energy is the newest supplier of electricity to the residential market in Ireland, having launched in August of last year.
It has subsequently cut rates for new customers a number of times, which were followed by price reductions from other suppliers in the market.
Yuno’s new unit rate for electricity from Yuno is 25.24 cent per kWh.
It says the total annual cost for a typical customer will be €1,325 per year, which is over €500 cheaper than the average standard rates from other suppliers.
Yuno says this is after all recently announced decreases by other suppliers take effect.
Cathal Fay, Yuno CEO said this is a fixed rate offering so it will not change for the year. “Wholesale markets have increased in the last few weeks and are still volatile, so the new rate we’re announcing today might be particularly appealing to those that want to be sure they can lock in the benefits of recent price reductions.”
Yuno Energy is run by the people behind PrepayPower – Ireland’s largest pay-as-you-go provider with over 180,000 electricity and 60,000 gas customers. Yuno Energy is a separate business which operates independently with its own app.
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