Starting at the beginning of July, home electricity and gas rates will be reduced by 10%.

Approximately 250,000 power and 90,000 gas consumers nationwide would be impacted by the announcement.

This marks the energy provider's second price reduction of the year; the first was a 12.8% and 11.5% drop in gas and electricity tariffs, respectively, back in February.

"All domestic electricity and gas customers on variable rates in the Republic of Ireland will have the reduced rate automatically applied to their bills from July 1st," the company stated.

SSE Airtricity's managing director Klair Neenan continued: "We are happy to be able to announce a price decrease today, following our most recent price decrease in February,".

"We have worked hard over the last couple of years to support our customers and we remain committed to passing on reductions as soon as it is possible to do so."