By comparing electricity prices and switching to the cheapest deal, households can save significant amounts of money. An average household that is still on Electric Ireland’s standard rates could save €318 in just 12 months by switching supplier.
The electricity switching market in Ireland is very competitive. Most of the 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 supplier – (about 35% of all households).
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, BE Energy, SSE Airtricity, Panda , Bright or Bord Gais Energy.
Who has the Cheapest Electricity Deals in Ireland in January 2021 ?
In January 2021 we compared electricity prices in Ireland for new customers and this is what we found:
Energia had the cheapest electricity deal in all the examples except for lower usage. See the figures below.
| Annual Electricity Usage | Cheapest Provider (Over 1st Year) | Next Best |
|---|---|---|
| Very High (8000 kWh) | Energia (€1273) | Glowpower €1332 |
| High (6000kWh) | Energia - €1013 | Glowpower €1059 |
| Medium (4200 kWh) | Energia - €780 | Electric Ireland €787 |
| Low (3000 kWH) | Electric Ireland €561 | Energia €624 |
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 available from the Energia website.
Their offer of 41% off standard electricity rates for 12 months and €35 cashback will work out at €1273 in the first year.
A similar household on Electric Ireland standard rates would pay €1991 in the same period. (€718 more expensive !)
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 usage.
Currently, the best switching deal for higher usage homes is also with Energia through the Energia website.
Their offer is 41% off standard electricity rates for 12 months and €35 cashback. This will work out at €1013 in the first year for 6000kwh
The second best switching deal for high usage households is with GlowPower . Their cashback deal works out at €1059 in year one
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‘s cheapest electricity deal will work out at €780 over 12 months for this usage , including €35 cashback. You can only get this offer on the Energia Website
Electric Ireland is next best if you are already with Energia €787
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.
Electric Ireland is giving €265 cashback to new customers – which will work out at €561 in year one for this usage.
Energia with their €35 cashback deal works out as the second-best deal for 3000Kwh at €624 in year one.
Switch Annually
In all cases – after the first 12 months, households should always compare electricity prices and look into switching again to obtain the best deal.
See a Summary of the Cheapest Average Usage Electricity prices here
When we compare 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.
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 in the region of €300 just on electricity bills over a year.
Figures correct 17th January 2021
Average Electricity Bills in Ireland
Figures on Prepaid Electricity
Electricity Saving Tips from the SEAI