By doing a comparison of electricity prices and switching to the cheapest deal, households can still save significant amounts of money in 2023. (As much as €800 a year for average usage)
You can still get discounted deals – but these discounts may not be available for much longer.
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 probably going to be less common now as energy prices increase. There have been quite a few price rises in the past few months and hopefully there won’t be many more in 2023 .
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 January 2023 ?
On January 23rd 2023, we did a Comparison of Electricity Prices available in Ireland for new customers on standard meters and this is what we found: (All prices take account of the reduced VAT)
See the figures below.
| Annual Electricity Usage | Cheapest Provider (Over 1st Year) | 2nd Cheapest Electricity Provider (Over 1st Year) |
|---|---|---|
| Very High (8000 kWh) | Electric Ireland | SSE |
| High (6000kWh) | Electric Ireland | Flogas (Fixed Rate) |
| Medium (4200 kWh) | Electric Ireland | Flogas (Fixed) |
| Low (3000 kWH) | Flogas | Electric Ireland |
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 lowest switching deal for high electricity usage homes is from Electric Ireland at €3575 in year one.
The second cheapest deal at the moment for very high usage is available from SSE at €3714.
You can check other figures for your own household on the Switcher website
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.
The lowest priced deal at the moment for high electricity usage homes is from Electric Ireland at €2757 in year one.
The second best price is from Flogas with €150 cashback which works out at €2843 in year one.
The unit rates are fixed for a year – so they will not increase (or decrease) for 12 months.
(You can check the figures for your own household on the Switcher website )
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.)
Electric Ireland is the cheapest at €2021 in year one for average usage.
The second cheapest is a fixed-rate deal from Flogas with €150 cashback that works out at €2036 in year one.
The unit rates are fixed for a year – so they will not increase (or decrease) for 12 months.
(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.
The cheapest deal for low-usage households is available from Flogas with €150 cashback which works out at €1498 in year one.
The unit rates are fixed for a year – so they will not increase (or decrease) for 12 months.
The second cheapest is Electric Ireland at €1530 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.
If you register with One Big Switch they often have good energy-switching deals.
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 Jan 23rd 2023
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