Electric Ireland has announced that its 1.2 million residential customers can benefit from additional savings of up to 8.5% every year.

Electricity customers can get an annual saving of 5.5% and customers who take both electricity and gas from Electric Ireland can get a saving of 8.5% across both.

The savings are being offered to customers who pay their bills by Direct Debit and have online billing.

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The savings will begin with immediate effect.

Paul Stapleton, General Manager Electric Ireland said: "Following our 6% price reduction announcement last month, this is more great news for Electric Ireland customers. We want our customers to get the best value without having to shop around. Rather than focus on new customers with short term discounts which has been a feature of the market to date, we want to reward our loyal customers and make sure all our customers can benefit from the best long-term value available from the market."

(CD/MH)