SSE Airtricity has become the latest utility company to slash energy prices following competitors Electric Ireland, Energia and Pinergy.
The company says it will see their dual account customers enjoy a discount of &euro;385 over the coming year.
However, Public Expenditure Minister, Paschal Donohoe, said the reductions from the energy firms so far have to be "only the start" of price reductions for cash-strapped consumers.
Speaking at a policing plan launch in Ballybough, Mr Donohoe said: "Prices went up by a very significant amount over the last 22 months and the announcement today should be the beginning of the journey.
"When we see that energy prices across the world have stabilised or fallen, it's imperative&nbsp;their full benefits are passed on to Irish households and businesses."&nbsp;
SSE Airtricity's announcement will see a 12% decrease in the standard unit rate for electricity and a 10% decrease in the standard unit rate&nbsp;for gas. The reductions will see a typical dual fuel customer save &euro;384.55 (including VAT) per year.
All domestic Republic of Ireland gas and electricity customers will automatically have the reduced rate applied to their bills.
Klair Neenan, chief executive of SSE Airtricity, said: "We hope the announcement will be welcome news for households as we approach winter."

JOY AS SSE AIRTRICITY SLASH ENERGY PRICES

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