Gas prices are set to fall by up to 11 per cent from the start of October after a decision by the Commission for Energy Regulation (CER) today.
The CER, which decides energy price levels, approved the reduction because wholesale gas prices on international markets have fallen.
As a result of this decision, Bord Gáis says natural gas costs for an average residential customers should fall by 10.5 per cent from October 1st, and by up to 12 per cent for small and medium size business customers.
Bord Gáis said the anticipated price decrease would mean a reduction of approximately €100 on a typical annual residential natural gas bill of €922. The move follows from an earlier price decrease of 10 per cent in February.
David Bunworth, head of Bord Gáis Energy Supply, said: "We are very pleased today to announce that the vast majority of our customers will further benefit this year from another price decrease in the cost of natural gas.
"With this latest decrease, natural gas will now be over 20 per cent cheaper than oil for home heating."
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