Yuno Energy is set to slash their electricity prices from this week, with thousands of customers to save up to €430 per year.
The energy company, which is owned by the same company as Prepaypower, only launched in August. It claims to have the cheapest rate on the market and already has thousands of customers.
Last month when Electric Ireland and PrePay Power lowered their rates, Yuno followed suit and cut sits initial rate. Now this week Yuno is offering a new fixed rate of 31.55c per kWh, which is 5 per cent less than the 33.35c it currently charges and makes it the cheapest supplier non the market.
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Yuno says this would be cost an average customers €1,590 per year, €430 less than the average standard rates offered by others. Yuno chief executive Cathal Fay said: “The new rate will be particularly attractive to customers who haven’t switched energy provider in over a year.”
But Yuno has confirmed that it will still offer its variable rate for those who do not wish to fix on a price for the coming year. The latest price cut comes after Electric Ireland, SSE Airtricity and PrepayPower cut their rates in the first week of November.
Earlier this month SSE Airtricity customers saw a decrease of 12 per cent on domestic electricity prices and 10 per cent for gas. PrepayPower slashed their unit rates by 13.5 per cent for gas and 12.8 per cent for electricity, while Electric Ireland's prices dripped 10 per cent for electricity and 12 per cent for gas bills respectively.
Meanwhile, the first energy credit as announced in Budget 2024 will be rolled out this week. Households will see the €150 credit be available from the 1st of December, with a second energy credit due January and the final credit being applied from March.
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