Bord Gáis has announced that it is entering the residential electricity market later today, with a guarantee to customers that its prices will be at least 10% lower than the ESB for the next three years. The company's chief executive, John Mullins, said it would be a simple process for ESB customers to switch to Bord Gáis, and this would be open to all 1.8 million registered households who use electricity. This announcement amounts to a huge shake-up of the residential electricity market and, Bord Gáis claims it will result in immediate and substantial savings for customers. From midday today, any ESB customer will be able to switch over and get their electricity from Bord Gáis by either phoning the company or going online. It hopes to expand its customer base to more than a million people in three years, by promising its bills will always be at least 10% lower that the ESB. On gas prices, Mr Mullins said he believed that they would go down considerably this year - with prices more than 25% lower next December than they are today.
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