New electricity supplier Yuno Energy has today announced a 12% reduction in its unit energy cost for its lowest discounted tariff.
Yuno Energy launched in the Irish market in August and it said the price cut takes place with immediate effect.
It said its new unit rate for electricity will fall to 33.66 cent per kWh, down from 38.05 cent per kWh.
The company said the total cost for a typical customer is estimated to be €1,665 per year,which is €355 cheaper than the average standard rates from other suppliers.
Yuno Energy was set up by the people behind Prepaypower, the country's largest pay-as-you-go provider with over 180,000 electricity and 60,000 gas customers.
It is a separate business which operates independently with its own app and a seven day a week call centre and is available to customers across the country.
Cathal Fay, Yuno CEO, said its new rate will be particularly attractive to customers who have notwitched energy provider in over a year.
"There is now real value to be had from switching and Yuno is leading the way in this regard," he added.
The CEO also said the company was very happy with the response to its launch.
"Customer recruitment is going well and the response to our app (which allows customers track actual energy costs against budgeted energy costs) has been extremely positive. Customers know how much energy they use and precisely how much their bill will be throughout the month," he added.
