As the CRU release figures for September’s change of supplier update, we take the opportunity to analyse some of the latest trends in the electricity and gas markets in Ireland. And with Christmas just around the corner, now is the best time to take advantage of the best deals on the market.
The Commission for Regulation of Utilities (CRU) has released updated figures for September reporting the level of switching in both the gas and electricity retail markets in Ireland.
Published on a monthly basis, the update is of interest to electricity and gas customers and suppliers across the country.
With September’s figures revealing pre-pay or pay-as-you-go providers doing increasingly well, we take a closer look at the stats and try to make sense of the current trends.
Key electricity data
The report acknowledges a 1.8% increase in the average number of electricity switches each month between the first nine months of 2018 and the same period in 2019.
The total number of electricity switches for September 2019 was 24,957, while the highest number of electricity switches for the first nine months occurred in July with 29,086 switches.
The biggest winners of customers in September of this year were PrePayPower with new net customer base of 1,127, followed by Energia with 421, and Electric Ireland with 268.
Meanwhile SSE Airtricity lost 1,468 customers in the period, Bord Gáis Energy 1,386, and Pinergy 124.
With PrePayPower proving to be the big winner in September, and gaining a steady following ever since coming into the market, the considerable amount of people moving to pay-as-you-go electricity cannot be ignored. PrepayPower have gained a net total of 7,775 new electricity customers so far this year.
There are a number of possible reasons to explain the popularity of prepay, including the convenience it provides to consumers. However, prepay is not necessarily the best option for every household and may mean you end up paying more than you need to!
Take a look at one of our recent deep dives casting a critical eye over the pros and cons of the prepay model.
Key gas data
Similar to data discussed above, the report also makes reference to a 10% decrease in the average number of gas switches between the first nine months of 2018 and the same period in 2019.
The total number of gas switches for September 2019 was 9,779, while the highest number of gas switches for 2019 so far occurred in January with 10,486 switches being carried out.
Electric Ireland won the most amount of customers in September with a net gain of 1,031, with PrePayPower again doing well with a net gain of 469, followed by Energia with 316, and Flogas with 77.
Conversely Bord Gáis Energy lost 1,155 customers, SSE Airtricity lost 369, and Panda Power 45.
Again we see PrePayPower gaining gas customers consistently from this month's report, accompanied by a net total of 5,259 new gas customers for the year so far.
It's worth remembering that although pay-as-you-go energy allows consumers to budget effectively and potentially be more energy efficient, so too are you predisposed to an extra expense at the hands of higher unit rate prices.
What's best for you?
Do you think pay-as-you go energy might suit your gas and electricity needs over your current plan?
However you prefer to pay, make sure to check out the best offers and deals on gas and electricity only on bonkers.ie.
