It doesn’t seem like all that long ago that there was no choice in the electricity market. There was the ESB and that was it! The price was the price, and you had to pay it because there was nothing you could do about it – except maybe get some candles and a camping stove.
And sure, we still call our electricity the ESB, and most of us still pay for the ESB no matter who sends us the bill.
But the ESB has actually been Electric Ireland since early 2011, and believe-it-or-not Lucy Kennedy kicked off the Big Switch more than seven years ago!
Lots of new electricity providers have come along since then too. We now have a whopping seven of them competing for our business, and we’ll probably see more launching in Ireland in the next few years too.
Which means competition. Real old fashioned price competition. And we’ve seen plenty of it over the last couple of months. So much so, that we announced a price war back on 30 September, and it has continued to rumble along since then – which brings me to something approximating the point of this blog.
On 14 November, Bord Gáis Energy increased the discount on their best electricity deal, knocked Energia off the top spot, and made Bord Gáis Energy the cheapest electricity provider in the market with a cost of just €916.68 in year one for an average customer, which was the cheapest we had seen in years.
Then just two days later, Energia countered by increased their electricity discount to 33% (the biggest electricity discount we have ever seen) and took back that number one spot with a year one cost of €909.68.
Energa’s price cut today is worth about a euro a month, which may not sound like a whole heap of money… but it is a price cut in a long line of price cuts, they really add up, and these price cuts have been driven by fierce competition between some of Ireland’s biggest energy providers. And they are competing for you, the electricity customer.
So if you’re on standard rates right now, you’re likely paying €226 per year more for your electricity than you need to, and if you’re on Ireland’s most expensive electricity deal you could be overpaying by €368 per year*. That’s a euro a day or more than €30 per month.
All this competition, and all these price cuts have added up to the biggest discounts, and the cheapest electricity prices we’ve seen since the ESB was deregulated and became Electric Ireland more than five years ago.
And it’s been more than five years since you could get electricity prices like these too, so why not give yourself an early Christmas present in the pre-season electricity sale and start saving today.
Energia’s Clever Energy electricity deal is a web exclusive so it’s not available direct, but it is available right here on bonkers.ie.
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