Almost one million Electric Ireland customers are to receive an automatic reduction in their bills before the end of the summer.

The firm confirmed the savings will continue to be automatically applied every year, with no contract, no renewal requirement or no exit fee.

Last year, Electric Ireland introduced a range of new enduring annual savings for customers who pay by Direct Debit, or have online billing, or have both electricity and gas accounts with the firm. Customers can save up to 8.5% on their bill every year and many customers have opted in to these savings already.

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Now, Electric Ireland is applying thee savings automatically to all relevant customers. In addition, a new saving is being automatically applied for customers who don't pay by direct debit but who always pay their bill on time. They will receive a 4% saving, which can increase to 7.5% if they use online billing, and have both electricity and gas with Electric Ireland.

Electric Ireland's General Manager Paul Stapleton commented: "At Electric Ireland we put our customers first and are fully committed to rewarding them for their loyalty by giving them the best long-term value in the market. For too long, the energy market has been about switching and giving the lowest prices to new customers on short term contracts. Our commitment is that all our customers can benefit from our best prices and the savings will endure year after year. We reward customers who pay by direct debit but we also acknowledge that option doesn’t suit everyone so we are delighted to introduce a new saving for customers who don’t pay by direct debit but who consistently pay their bill on time."

(CD/MH)