Electricity and gas price cuts for SSE Airtricity customers who are on variable tariffs will come into effect today.
The 10% price reduction, announced back in May, will benefit the company's more than 300,000 domestic customers in the Republic of Ireland.
The changes will result in electricity customers saving up to €149 a year on the estimated average annual bill, while gas customers will save up to €105 a year.
Energy prices are now around 30% lower than they were at the height of the energy crisis two years ago.
The decrease has been made possible by falling wholesale gas and electricity prices.
Despite this latest cut, Daragh Cassidy - head of Communications at price comparison website Bonkers.ie - said SSE's electricity prices are still around 70% higher than they were before the energy crisis broke out, while its gas prices remain around 80% higher.
"This means households will still be paying around €1,000 a year more for their gas and electricity than they were only a few years ago," he said.
"So energy costs will remain a concern for many households for the foreseeable future," he added.
Mr Cassidy said he would expect the other main suppliers like Electric Ireland, Bord Gáis Energy and Energia to also cut their prices for existing customers by a similar amount over the coming weeks.
"There's been much more activity in the acquisition space however and for those who switch there are some excellent deals and discounts on offer right now to new customers," he said.
This is the second time this year that SSE Airtricity has reduced its prices paid by customers, having announced a 12.8% reduction in electricity prices and a 11.5% drop in gas prices in December 2023 that took effect in February.
Prior to that SSE Airtricity reduced its prices in September by up to 12%.
In 2022, it increased its prices twice, while in 2021 they rose three times.
