Electric Ireland (formerly ESB) used to be the only supplier of Electricity in Ireland – but since deregulation in 2011 electricity prices are no longer set by the Energy Regulator.
Many thousands of households have switched to SSE Airtricity , Energia or Bord Gais Energy in order to get cheaper electricity prices. But – many thousands more have never switched – and could save around €222 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 promotions such as free thermostats or cashback.
Who has the Cheapest Electricity Deal in Ireland in February 2017 ?
We carried out a quick comparison of Electricity prices in Ireland for new customers in February 2017 and this is what we found:
For homes that use gas or oil to provide heating and hot water , an annual electricity usage of about 5200 Kwh a year would be typical. This is the usage we have used in this comparison.
If you have never switched supplier and you are still with Electric Ireland on standard rates – then you could save as much as €222 in just one year.
Energia have a special offer only available online through the Switcher.ie website. This promotional offer gets you 33% off their standard electricity rates for 12 months and would work out at €897 in the first year. (Paying by Direct Debit). They also include 1 year’s FREE boiler & home heating emergency breakdown insurance.
Staying on Electric Ireland’s standard rates and paying by cash/card or cheque would cost you €1119 over the next 12 months. (An extra €222)
If your electricity supply is not already with Electric Ireland – then switching back to Electric Ireland will currently work out as the cheapest deal. They are currently giving all new/returning customers €175 cashback and a 5.5% discount – resulting in a total cost over year one of €895. You can easily switch online at the Electric Ireland website.
You can check out the very latest prices for all suppliers with personalised price comparisons for your actual fuel usage at our partner Switcher.ie
Be wary of adverts and sales people offering the “cheapest rates” or a ” 12% discount ” and “14% savings” . These discounts the energy suppliers are referring to – are usually discounts on their own standard rates. Also be aware that standing charges are not the same across all providers – and they could be higher than other suppliers. Just because a supplier has the cheapest standard rates – it doesn’t mean there are not lower priced discounted offers from other supplier.
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.
Figures correct 1st February 2017