Fixed rates on mortgages and savings have been around for years – but the availability of fixed rates on energy in Ireland is not that common. One newcomer to the Irish energy market is Iberdrola. They are offering fixed rates on gas and electricity.
The current Fixed Price Electricity deal from Iberdrola works out at €827 over the first 12 months for average usage. This is only €27 more expensive than the cheapest variable deal from Panda. If electricty prices rise by more than 3% – then you will be better off with the Iberdrola fixed rate. But it looks like Electricity prices could be on the way down in early 2020 – Electric Ireland recently announced a small price cut from April.
See our full Comparison of Electricity Charges
In March 2020 – the dual fuel fixed rate offer available from Iberdrola through the Switcher website – would work out at €1486 for average gas and electricity usage over one year. Their unit rates are fixed for 12 months.
By comparison – the best dual fuel offer from Panda Power works out at €1462 over the next 12 months, including their cashback offer.
So that is a only a €24 difference – but you would be protected from any price increases for a full year with Iberdrola.
See our full Comparison of Dual Fuel Energy Tariffs
Prices correct as at March 2nd 2020