By doing a comparison of electricity prices and switching to the cheapest deal on an annual basis, households can save significant amounts of money. There have been quite a few price rises in the past few months and more might be on the way later in 2022 .
Before 2011 the only domestic electricity provider in Ireland was Electric Ireland. (It was known as ESB then).
However, since the deregulation of electricity in 2011, consumers can now choose from several electricity suppliers such as Energia, SSE Airtricity, Panda , Iberdrola or Bord Gais Energy.
The electricity switching market in Ireland is usually very competitive. Most energy suppliers regularly have special offers, discount codes or cashback promotions. These offers are less common now as energy prices increase.
Figures from the CRU show that many thousands of people in Ireland have never switched electricity suppliers – (about 35% of all households).
Who has the Cheapest Electricity Deal in Ireland in May 2022 ?
On May 2nd 2022, we did a Comparison of Electricity Prices available in Ireland for new customers and this is what we found: (All prices take account of the reduced VAT)
See the figures below.
You can check the figures for your own household on the Switcher website
| Annual Electricity Usage | Cheapest Provider (Over 1st Year) | Second Cheapest |
|---|---|---|
| Very High (8000 kWh) | Electric Ireland €1993 | Energia (€2005) |
| High (6000kWh) | Electric Ireland €1577 | Energia (€1577) |
| Medium (4200 kWh) | Energia (€1192) | Electric Ireland €1202 |
| Low (3000 kWH) | Flogas €890 | SSE €926 |
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.
Currently, the best switching deal for very high electricity usage homes is from Electric Ireland at €1993 in year one . (Includes upcoming price increase).
Energia currently has the next cheapest electricity deal for very high usage Over the first year – their 41% discount offer will work out at €2005 .
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.
Currently, the best switching deal for high electricity usage homes is from Electric Ireland at €1577 in year one .
Next best is Energia . Over the first year – their 41% discount offer will also work out at €1577 .
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.)
Energia currently has the cheapest electricity deal for average usage. Over the first year – their 41% discount offer will work out at €1192 .
Electric Ireland is the second cheapest at €1202 in year one. (The 1 year contract).
You can check the figures for your own household on the Switcher website
Best for Low Electricity Usage :
Smaller households will obviously use less electricity. Typical usage for a 1 or 2 person household that doesn’t use electricity for heating might be 3000kwh per year.
Flogas has the lowest price at €890 in year one (includes €220 welcome bonus)
SSE Airtricity is second best at €926 in year one
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.
You can check the figures for your own household on the Switcher website
When we do our Comparison of Electricity Prices, we always include cashback offers in the calculations. However, some comparison sites don’t automatically include cashback in the price. For this reason, do not assume that the deal shown at the top of a comparison site is actually the cheapest one available.
As you can see, cashback offers can make a big difference when comparing electricity prices – especially for lower usage households.
Be wary of two-year contracts with cashback – they may show up as being the cheapest in year one on some comparison sites but may not really be the cheapest when the cashback is spread over 2 years. The 2-year cashback deals from Electric Ireland have a clawback clause that means you will have to return the cashback if you leave before the end of the contract.
Important – If you also have natural gas you should check our Dual Fuel Price Comparison
Ultimately you should be planning on switching your energy supplier every 12 months to take advantage of all these special offers. If you don’t switch, your provider will just put you back on their standard rates after the first year.
Switching only takes a few minutes – and as we have shown it can easily save you hundreds of Euros on electricity bills over a year.
Figures correct May 2nd 2022
Switch Mortgage to Save Thousands
Average Electricity Bills in Ireland
Electricity Saving Tips from the SEAI