Yuno Energy said today it will cut electricity rates for new customers for the fifth time this year.
Yuno Energy, the newest supplier of electricity to the residential market in Ireland, last made a price cut on March 25.
The company said its new unit rate for electricity is 23.69 cent (including VAT) per kWh, down 6.14% from 25.24 cent per kWh.
The new rate is available to customers who sign up with Yuno from today and the company said the rate is fixed for 12 months so it will not change whatever happens to prices in wholesale energy markets during that period.
Yuno said the total annual cost for a typical customer will be €1,260 per year, down from €1,325 per year - over €567 cheaper than the average standard rates from other suppliers.
Cathal Fay, Yuno Energy CEO, said the company is ensuring that customers benefit from the competitive prices it can get for electricity on the wholesale markets.
"While those markets are still volatile, our fixed rate offering will insulate customers from any price changes over a 12 month period giving them peace of mind. If you haven't changed in a year or more you will save a minimum of €496 by signing up with Yuno Energy," he added.
Yuno Energy is run by the people behind PrepayPower - a pay-as-you-go provider with over 180,000 electricity and 60,000 gas customers. Yuno Energy is a separate business which operates independently with its own app.
