Yuno Energy has announced another price cut for new customers.

The energy provider launched a new fixed-rate deal for electricity customers, which it says is 6 per cent lower than its previous rate.

The new rate of 23.69 cent (including VAT) per kWh will be fixed for 12 months and is available to customers who sign up with Yuno from Monday, May 13th.

Yuno launched in the Irish market last August, and has joined other providers in reducing rates following drops in wholesale energy prices.

This is the fifth time this year that Yuno has cut its rates.

Yuno chief executive Cathal Fay said customers would benefit from “competitive prices” on the electricity wholesale markets.

“While those markets are still volatile, our fixed rate offering will insulate customers from any price changes over a 12-month period giving them peace of mind,” he said.