Many thousands more have never switched electricity provider – (about 36% of households) and these people could save in the region of €200 to €300 in just 12 months on electricity bills if they changed supplier.
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 suppliers such as SSE Airtricity , Energia or Bord Gais Energy in order to get cheaper electricity prices.
The electricity switching market is competitive, with companies regularly doing special offers, discount codes or other promotions such as cashback.
Who has the Best Electricity Deal in Ireland in August 2018 ?
We carried out a quick comparison of Electricity prices in Ireland for new customers in August 2018 and this is what we found: (Figures include all recent price increases and Bord Gais Energy’s increase due on Aug 6th)
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 or more per year would be possible for higher usage households . The current best switching deal for someone using these amounts of electricity would be with Energia .
Energia 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 €1140 in the first year. (Paying by Direct Debit). This is a saving of €264 compared to Electric Ireland’s standard rates .
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 average national usage.)
The best deal currently would be to switch your electricity to Bord Gais Energy with €175 cashback – working out at €830 over the first year. A saving of €232 compared to staying on Electric Ireland’s standard rates.
If you are already with BGE for electricity – the next cheapest deal for average usage is available direct from Energia . This offer works out at €865 ( with a 29% discount and €50 cashback) and is only available online with Promo code CHEAPELEC at the Energia Website
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 €835 a year. You could cut this by €218 in the first 12 months by switching to Bord Gais Energy.(€617 including €175 cashback).
(Note: If you are already with Bord Gais Energy for your Electricity supply – then the best deal for you is to switch back to Electric Ireland and get €150 cashback which brings the year one price to €653 )
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 very 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 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 €200 just on electricty bills over a year.
Figures correct 2nd August 2018