Energy provider SSE Airtricity is to drop natural gas prices by 7.8% and electricity prices by 8%.
The company, which supplies around 300,000 homes and small businesses in Northern Ireland, said it would save the average household over £100 a year.
The reductions will come into effect on 1 April.
Earlier this month, Power NI announced that it was reducing its prices for homes and small businesses by 9.2%.
Budget Energy has also announced a 5% price cut.