Here at MoneyguideIreland we are always advising people to shop around and switch suppliers to reduce bills – but how many people have actually switched their Electricity provider?
The CER (Comission for Regulation of Utilities ) recently released some research on the switching of electricity suppliers in Ireland. (2019).
See out latest Electricity Price Comparison here to see how much you could save.
Electric Ireland still have the most customers (48%) followed by Bord Gais Energy (18%), SSE Airtricty (14%) and Energia with 9%
In the 2019 survey – 49% of households said they had never switched electricity provider
Of those that had switched – 19% had done so within the last 12 months.
On average – just under 12% of people switch electricity supplier in Ireland every year. (UK figures are almost 15% a year)
The main reason for switching electricity provider was a desire to save money on the total bill – with 89% of people giving that as a reason.
Of those that had switched electricity supplier – over 87% felt that the changeover went smoothly .
We say that energy supply should be treated like insurance … householders should compare prices and switch to the cheapest every year.
The survey discovered that largest effect on switching was being approached by a supplier’s sales person face to face .
The worrying thing about this – is that consumers will usually be getting biased information from sales people who are on commission. They may feel pressured into signing up without knowing the details of offers available from other suppliers.
You should check out our Electricity Price Comparison to see which supplier is the cheapest.
The survey also found that most people did not realise that electricity prices are now fully unregulated with suppliers being allowed to set their own prices
Three quarters of people did not know this was the case – and assumed that some sort of state price regulation was in force.