The company's gas customers will see an average annual bill fall by €216.67.
Electric Ireland has announced a 10% cut in domestic electricity prices and a 12% reduction in gas charges.
The changes will take place from 1 November and will benefit the utility provider's 1.1 million customers.
The cuts to both unit rate and standing charge will lead to savings of €212.06 a year on the estimated average annual bill for electricity.
The company's gas customers will see an average annual bill fall by €216.67.
It is the first cut in prices by Electric Ireland, which is the largest energy provider in the Irish market, since wholesale energy costs began to soar as a result of the Ukraine war.
Last year, Electric Ireland raised prices three times, the last occasion being October, while in 2021 it raised them twice.
However, Daragh Cassidy from bonkers dot ie says context is key:
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