Householders will see their electricity bills reduced by 5.4 per cent from midnight tonight.
The reduction will lead to an average annual saving of €50 for the ESB's 1.9 million residential customers. There will also be a price drop of 10 per cent for medium sized businesses and almost six per cent for small businesses. The Commission for Energy Regulation (CER) said the reductions reflect lower gas prices. Household gas prices fell by almost 10.6 per cent on October 1st.