The electricity switching market in Ireland is very competitive, with suppliers regularly doing special offers, discount codes or other promotions such as cashback. Many thousands of people in Ireland have never switched electricity supplier – (about 36% of all households).
By comparing electricity prices and switching to the cheapest deal, those households could save, on average, €235 in just 12 months on electricity bills.
Electric Ireland (formerly ESB) used to be the only domestic Electricity provider in Ireland – but since deregulation in 2011 , thousands of households have switched to other suppliers such as Energia , SSE Airtricity , Panda or Bord Gais Energy in order to get cheaper electricity prices.
Who has the Best Electricity Deal in Ireland in February 2020 ?
We carried out a comparison of Electricity prices in Ireland for new customers at the end of February 2020 and this is what we found:
(Over 1st Year)
|High (6000kWh)||Energia - €1071||Panda Power €1094|
|Medium (4200 kWh)||Panda Power €800||Energia - €809|
|Low (3000 kWH)||Electric Ireland Cashback Offer : €591||Panda Power €604|
For Higher Usage:
Electricity usage will be higher in larger homes with 4 or more occupants – and also in smaller households that use only electricity for heating and hot water. Electricity consumption figures of 6000 kwH per year would be possible for higher usage households.
The best switching deal for higher usage homes is with Energia . They have a special offer only available through the Energia website.
You need to enter the promo code CHEAPESTFUEL and this will get you 36% off their standard electricity rates for 12 months and €20 cashback.
This will work out at €1071 in the first year. (Paying by Direct Debit). This is a saving of €320 in year one , compared to Electric Ireland’s standard rates (Non DD) .
Next best is Panda Power at €1094 including €100 cashback.
For medium-sized homes that probably use gas, oil or solid fuel to provide heating and hot water, an annual electricity usage of about 4200 Kwh a year would be typical. (This is the average national usage.)
The best deal is currently from Panda Power . With 28% off their “standard” rates and €100 cashback. This works out at €800 in year one .
The next best deal would be to switch your electricity to Energia . This offer works out at €809 ( with a 1 year 36% discount and €20 cashback) and is only available online with Promo code CHEAPESTFUEL at the Energia Website.
Best for Lower Usage :
Smaller households will use less electricity. Typical usage for a 1 or 2 person household that doesn’t use electricity for heating might be 3000kwh per year.
If you are not currently with Electric Ireland for your Electricity supply – then the best deal for lower usage households would be to switch to Electric Ireland and go for their €175 cashback offer . This will work out as a year one price of €591 for 3000kwh.
If you are already with Electric Ireland – the best deal is to switch to Panda Power – their deal works out at €604 in year one including the €100 cashback they are offering.
In all cases – after the first 12 months , households should always look into switching again to obtain the best deal.
See a Summary of the cheapest Electricity prices here
If you also have gas – take a look at our Dual Fuel Price Comparison
Cashback offers are not included in other comparison sites calculations – but we include them. So don’t assume the cheapest deal shown at the top on the comparison sites are actually the best available. Cashback offers can often make a very big difference to the overall cost- especially for lower usage households.
You should really think about switching your energy supplier every 12 months to take advantage of all these special offers – otherwise, most providers will just put you back on their standard rates after the first year.
It only takes a few minutes – and as we have shown it can easily save you in the region of €250 just on electricity bills over a year.
Figures correct 26th Feb 2020