Ireland's competitive business energy provider Energia has entered the residential electricity and gas market with a new offer for consumers nationwide.

The launch was attended by the Minister for Communications, Energy and Natural Resources, Pat Rabbitte, T.D. Energia's offer will guarantee savings of up to 15% off standard rates for both gas and electricity.

Energia will be the only provider to discount both fuels at this level and additional discounts will also be provided for dual fuel customers. Energia customers can yield annual savings of up to €180 for electricity and €125 for gas off the standard rates of Electric Ireland, BGE and Airtricity - the equivalent of a up to a day of free energy every week for an average home.

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Energia has made significant investment in conventional and renewable power in the Irish market in recent years and will create 100 new jobs as it enters the residential electricity and gas market. The company now employs over 450 on an all-island basis.

Minister Pat Rabbitte said: "Energia is already a key competitive player in the business energy market and their decision to offer electricity and gas to Irish households is a welcome development for consumers. Competition among suppliers in both the residential and business energy markets has helped to increase product innovation and choice and most importantly, reduce prices."

Ian Thom, Group Chief Executive, said: "Our commitment to the Irish market is underpinned through our support for €1.2b of investment in Irish energy infrastructure and today we are extending our competitive approach into the residential market for electricity and gas. We have the expertise and experience it takes to make a real difference for consumers. We look forward to bringing the benefits of competition and lower energy prices to homes throughout Ireland."

(CD)