Electric Ireland (formerly ESB) used to be the only domestic Electricity Provider in Ireland – but since deregulation in 2011 many thousands of households have switched to suppliers such as SSE Airtricity , Energia or Bord Gais Energy in order to get cheaper electricity prices.
Many many thousands more have never switched – and could save around €200 in just 12 months on electricity bills if they changed supplier.
The electricity switching market is competitive, with companies regularly doing special offers, discount codes or other promotions such as cashback.
We had a spate of Electricity price rises recently – with Electric Ireland teh last supplier to raise prices (1st Feb).
Who has the Cheapest Electricity Deal in Ireland in February 2018 ?
We carried out a quick comparison of Electricity prices in Ireland for new customers in Feb 2017 and this is what we found:
Low Usage – smaller households will use less electricity. Typical usage for a 1 or 2 person household that doesn’t use electricity for heating – would be 3000kwh per year. On Electric Ireland’s standard rates – paying bills as they arrive – this would cost €792 a year. You could cut this by €216 in the first 12 months by switching to Bord Gais Energy.(€576 including €175 cashback)
For medium sized homes that 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 avearge national usage. The best deal currently would be to switch to Bord Gais Energy with €175 cashback – working out at €775 over the first year. A saving of €231 compared to staying on Electric Ireland’s standard rates.
Electricity usage will be higher in larger homes with 4 or more occupants – and in households that use only electricity for heating and hot water. Consumption figures of 5500 kwH or more per year would be typical for higher usage households .
The best switching deal for someone using these amounts would be with Energia . They have a special offer only available online through the Energia website. You need to enter the promo code CHEAPELEC and this will get you 29% off their standard electricity rates for 12 months and €50 cashback . This would work out at €985 in the first year. (Paying by Direct Debit). This is a saving of €253 compared to Electric Ireland’s standard rates .
Households with Very high Usage – of 7000kwh or more per year would be better off switching to the Energia deal available through Switcher.ie of 33% of their standard rates. You can use the Switcher site to check prices for your specific usage.
In all cases – after the first 12 months , households should 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 comparison sites calculations – but we include them. So don’t assume the cheapest deal shown on the comparison sites are actually the best available. Cashback offers can often make a big difference to the overall cost.
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 rput you back on their standard rates after the first year.
It only takes a few minutes – and as we have shown it can save you in the region of €200 just on electricty bills over a year.
Figures correct 1st Feb 2018