By doing a comparison of electricity prices and switching to the cheapest deal, households can still save significant amounts of money in 2024. (Over €500 a year for average usage). Prices are falling and some good deals are starting to appear. There are a few fixed rate deals on offer – but as prices are expected to fall again in the next few months , fixed price deals may not be work out cheaper in the long run
The electricity switching market in Ireland is usually very competitive. Most energy suppliers regularly have special offers, discount codes or cashback promotions.
Figures from the CRU show that many thousands of people in Ireland have never switched electricity suppliers – (about 35% of all households). But – there are still substantial savings to be made by switching your electricity supplier.
Who has the Cheapest Electricity Deal in Ireland in May 2024 ?
On May 2nd 2024 we compared the Electricity Prices available in Ireland for new customers on standard meters and this is what we found: (All prices take account of the VAT and PSO Levy ).
See the figures below.
| Annual Electricity Usage | Cheapest Provider (Variable) | Cheapest Provider (Fixed) |
|---|---|---|
| Very High (8000 kWh) | One Big Switch | SSE Airtricity |
| High (6000kWh) | One Big Switch | SSE Airtricity |
| Medium (4200 kWh) | One Big Switch | Yuno |
Very High Electricity Usage
A large household with more than 5 or 6 occupants could use as much as 8000 kwh a year. This is almost double the average usage.
Variable Rate Tariff : One Big Switch has an offer with Bord Gais that works out at €2396 in year one. (Including €50 cashback) . It is free to join One Big Switch – and they also have discount deals on insurance too.
Fixed Rate : SSE Airtricity has a fixed rate deal that works out at €2207 in year one.
High Electricity Usage:
Electricity consumption of 6000 kwH per year might be typical for high-usage households. Generally speaking, electricity usage will be higher than average in larger homes with four or more occupants.
However, some smaller households that use electricity for both heating and hot water may also have high electricity.
Variable Rate Tariff : One Big Switch has an offer with Bord Gais that works out at €1839 in year one. (Including €50 cashback) . It is free to join One Big Switch – and they also have discount deals on insurance too.
SSE Airtricity has a fixed rate deal that works out at €1716 in year one. (Rates won’t go down for a year)
Average Electricity Usage
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 national average usage figure.)
Variable Rate Tariff : One Big Switch has an offer with Bord Gais that works out at €1338 in year one. (Including €50 cashback) . It is free to join One Big Switch – and they also have discount deals on insurance too.
SSE Airtricity has a fixed rate deal that works out at €1273 in year one.
(Note – If prices fall you won’t see a reduction on a fixed-rate deal)
Do a comparison for your personal usage at Switcher
Switch Annually
In all cases – after the first 12 months with a supplier, households should always compare electricity prices and look into switching supplier again to obtain the best deal.
Sometimes it can be worth switching before your 12 month contract ends. Most suppliers will charge a €50 fee if you leave within 12 months – but if the new supplier has a lot cheaper offer, it can be worth paying the fee to avoid missing out on a good deal.
If you register with One Big Switch they often have good deals for members on electricity as well as broadband and insurance.
Important – If you also have natural gas you should check our Dual Fuel Price Comparison
To save the most money on your energy bills, consider switching your energy supplier every 12 months. Many energy providers offer competitive introductory rates to new customers, but these discounts typically expire after the first year. By switching suppliers regularly, you can ensure you’re always on the best available plan and avoid getting stuck paying more than you need to.
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