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Gas & Electricity

BEenergy launches new 2-year fixed electricity tariff

Daragh Cassidy

Daragh Cassidy

Head Writer

BEenergy have shaken up the market by launching a new two-year fixed electricity tariff that should appeal to customers who are worried about rising energy prices.

Energy prices have been on the increase for the past two years and most people are probably feeling the sting in their pockets. But what if you could lock in the price of your electricity at a guaranteed rate for a few years?

Enter BEenergy with their new two-year fixed electricity tariff.

As the name suggests, with this deal the price of your electricity is fixed for two years and is guaranteed not to increase. So even if energy prices continue to go up, you’ll enjoy the same rate throughout the full two years of your contract.      

What’s the deal?

Name

Electricity unit price per kWh

Annual standing charge

Contract length

Tariff

Estimated Annual Bill 

Early exit fee

BE budget 2-year fixed deal Urban

17.99 cent

€175.93

Two years

Fixed

€978.99

€100

BE budget 2-year fixed deal Rural

17.99 cent

€210.00

Two years

Fixed

€1012.96

€100

Who is this deal available to?

The deal is available to all new electricity customers as well as existing BEenergy customers who are out of contract. 

BEenergy currently only supply electricity, so you'll need to go elsewhere for now if you're looking to switch gas provider.   

More choice for consumers

Although common in the UK and Europe, fixed energy tariffs are as rare as hen’s teeth in Ireland so it’s good to see more choice here for Irish consumers.

And just like with fixed-rate mortgages, which now account for over 70% of all new mortgages in Ireland, it's likely that fixed energy tariffs will become more popular here in due course too.  

Fixed or variable tariff?

Whether you choose a fixed tariff or a variable one will depend on the value you place on certainty and the peace of mind in knowing that your electricity won’t increase in price over the period of your contract.

However the price you pay for certainty is a slightly higher unit rate to begin with as fixed energy tariffs are usually slightly more expensive than variable tariffs.

For example, with BEenergy’s own Budget Bonus plan you can get a rate of just 15.29 cent per kWh and with Bord Gáis you’ll get a rate of 16.19 cent. Also, if electricity prices were to decrease over the term of your contract, you could end up paying far more than you otherwise would have in the longer run.

Having said that, BEenergy’s new fixed tariff is still one of the cheaper tariffs (fixed or otherwise) on the market right now - so you’re getting a good price as well as peace of mind.

Not bad we say!  

Is this deal right for me?

The best deal for you will depend on several things such as how much energy you use, whether you're an urban or rural customer, whether you have a Night Saver meter installed and if so how much energy you use at night, so there's no one answer to this question!

The best thing is to check out all deals across all suppliers on bonkers.ie right now. It’s quick and easy with our energy comparison service. Just enter a few simple details and we’ll take it from there!  

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