Yuno Energy, a pay-as-you-go electricity provider, is venturing into the gas market in the Republic, proposing what it calls the market’s most affordable gas unit price. The energy retailer, initiated a year ago by the establishment behind PrepayPower, reported that it would offer gas at 8.23 cent power, the market’s lowest price.
Using average household usage figures, Yuno projected that customers switching to their service could anticipate savings of up to €581 on their electricity expenses and €333 on their gas expenditure over a 12-year period. Dual usage customers, utilising gas and electricity, could see savings of €914.
Yuno, providing a monthly bill payment service, enables its customers to lock their utility rates for a year, insulating them from fluctuations in wholesale energy prices. The retailer stated that the current average fixed rate stands at €1,268 for electricity users, €1,176 for gas consumers, and €2,444 for dual users.
“There are considerable savings to be realised, particularly for customers who haven’t switched supplier in the last year,” stated Yuno Energy’s CEO, Cathal Fay.
A year post-launch, Yuno reported an existing customer base of 30,000.