Bord Gáis Energy has announced its second price cut in eight months.

Customers will have the unit rate of gas cut by 2.5%, and the unit rate for electricity cut by 2%.

The company says the reductions represent an annual saving of €20.25 on an average customer's gas bill - and €24.34 on an average customer's electricity bill.

The utility says along with a price cut from January, the average household energy bill will reduce by almost €100 for dual fuel customers.

The changes come into effect from October 1st.

Bord Gáis Energy chief operating officer, Dave Kirwan, said: "In announcing a reduction to our prices today we are doing what we said we would do in January 2015; passing on wholesale cost savings to our customers as soon as we can".