Electric Ireland have launched a new guide to help Irish consumers understand the main cost elements that make up their bill.

The new Electricity Pricing Guide is expected to appear on their next bill.

Electric Ireland reveal that the full breakdown of their household electricity bill includes a number of factors, from raw fuels and generation to the delivery of electricity, government levies and taxes, and electricity suppliers' costs.

One of the main consumer misconceptions is the fuel used to generate electricity. Research reveals that 31% of customers think that oil is the most commonly used fuel to generate electricity, Electric Ireland revealed that oil is in fact used for less than 1% of electricity generation.

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Paul Stapleton, General Manger of Electric Ireland said: "Electric Ireland are committed to simple ideas that make our customers lives better, and the first step is helping them to understand what makes up their electricity bill. We hope that this new Electricity Pricing Guide will help customers to understand the different factors involved in bringing electricity to their homes.

"On the 16th November, Electric Ireland reduced our residential electricity prices by an average of 2%, which, when combined with last years price reduction, will save our customers an average of €50 off their annual bill."

(CD/LM)