Energy deregulation, we were told, would mean better Value for the Consumer.
Instead, a new survey by price comparison website bonkers.ie shows that we are paying over €200 a year more for both gas and electricity than we did just five years ago.
We have an energy regulator who is quick to approve price increases, yet slow to force companies to bring prices down when, as was the case this year, commodity prices fell dramatically. Prices are immediately reflected at the petrol and diesel pumps and it should happen with gas and electricity too.
By the same token, though, we often have only ourselves to blame. Switching providers regularly can lead to savings of an average of €314 a year – so next time someone knocks on your door offering you cheaperbills, don't seeit as an inconvenience, but as an opportunity. If you failtoswitchevery year or two, you might as well take a bundle of €20 notes to the patio and throw them on the barbecue.