Consumers could see a reduction of 8 per cent in energy bills from February, Bord Gáis said today.
The proposed price drop, which has been submitted by Bord Gáis Energy to the Commission for Energy Regulation (CER), will apply to residential and small and medium enterprises and will take effect from February 2010.
The proposed reductions are subject to the approval of the CER.
If approved, this would be the third reduction in gas prices in months, giving a cumulative decrease of over 25 per cent since May. The latest cut would equate to an average household saving of €53 per annum.
Commenting on the proposal, Bord Gáis Energy managing director David Bunworth, said: “Stable wholesale prices mean that Bord Gáis is able to pass on savings to customers in the form of an interim price reduction.
"If the CER approves this decrease, customers will get their third price reduction since May of this year”.
Minister for Energy Eamon Ryan said the proposed price reduction was “good news for the Irish consumer and the competitiveness of the Irish economy”.