New energy supplier to offer cheaper electricity rates for Irish customers

A new electricity supplier in the Irish market has sparked hopes of reduced costs for bill payers with the offer of cheaper electricity rates. 

Yuno Energy is promising it could save customers more than €500 a year on their electricity bills by closely monitoring their energy usage at home.

Yuno Energy is a subsidiary of Prepaypower, the pay-as-you-go electricity provider, which has been operating in Ireland for many years. 

It is expected to offer a billpay service at cheaper rates and operate as a separate entity. 

Yuno Energy is also offering a variable-rate tariff - where the standard unit rate is just over 41 cent. However, Yuno Energy isn't offering gas at present but hopes to at some stage in 2024.

It is the first new energy provider to enter the Irish energy market in over three years. 

According to Darragh Cassidy of Bonkers.ie: "Most households should be able to save a few hundred euro on their annual electricity bill with Yuno. An Electric Ireland customer on standard rates with a 24-hour meter and who uses an average amount of electricity would save around €260 over the year by moving to Yuno’s Energy's fixed tariff for example. Bord Gáis Energy’s electricity customers would save over €400.  

"However it’s important that you compare the market as depending on how much electricity you use and the type of meter you have installed (standard, day/night, or smart) there may be cheaper deals available with other suppliers," he said.

Learn more about Yuno here