Increased competition in the residential energy market spells good news for consumers with Energia the latest supplier to offer huge discounts.
The energy market in Ireland is well and truly heating up and it's not down to the better weather we're experiencing, but partly due to falling energy prices, with prices in the eurozone reportedly falling by 12% year-on-year this month.
And with more energy suppliers entering the market in Ireland over the past number of years, Irish consumers have been witnessing increased competition in the sector, and, in turn, better value when switching suppliers.
The latest supplier to offer a discount on its energy prices is renewable energy provider Energia, which is now offering market-leading rates on both its dual fuel and electricity plans.
Find out more below.
Who is Energia?
Energia is a supplier of residential gas and electricity in Ireland. The company provides 100% green energy and the Energia Group operates one of Ireland’s biggest wind farms.
It has invested over €1 billion to date in the energy market across the island of Ireland and operates from offices in Dublin, Belfast, Antrim and Omagh.
Energia is now offering a market-leading discount on dual fuel with a massive 40% off its standard electricity unit rate and 39% off its standard gas unit rate.
This dual fuel deal also comes with cashback to the value of €10, usually deducted from your first energy bill. The deal comes on a 12-month contract and is open to new customers only.
The discounts on offer mean that customers who sign up could potentially be paying an Estimated Annual Bill (EAB) of approximately €1,353.58* per year. See how much you could save here!
As is usual with most energy deals nowadays, customers who wish to leave before the expiry of the contract term will be charged an early exit fee of €50 per fuel, or, in this case, €100 in total.
One of the clear unique selling points of this deal, apart from the big discounts on offer, is the fact that 100% of the electricity is from renewable energy, bound to pique the interest of those environmentally conscious customers.
But that’s not all...
Energia is also offering what is now the market-leading rate on electricity with a discount of 41% off its standard electricity unit rate.
Like its dual fuel plan above, this electricity-only deal also includes €10 cashback when you sign up, is open to new customers only, and is generated with 100% renewable energy - completely green!
Customers who sign up to this electricity-only deal could be paying an Estimated Annual Bill (EAB) of approximately €754.97* per year - not bad!
*The price change effective on 01/06/2020 has been factored into the savings figures above.
Is it worth it?
Both Energia’s dual fuel and electricity-only plans offer huge discounts for new customers, and you’ll be hard-pressed to find anything cheaper on the market right now.
Other good news is that Energia is set to reduce its standard unit rate prices for gas and electricity from 1st June. The price change has been factored into the savings figures, as mentioned above.
Despite the new discounts, Energia does have some of the highest standard rate prices across electricity and gas. When your contract expires the unit rate you'll be charged will revert to this standard rate and without any discount applied. This is why it’s so important to compare, switch and save on your energy bills every year as most suppliers do not offer competitive discounts for existing customers.
However, Energia has a good reputation for customer satisfaction according to the most recent customer care team annual report from the Commission for Regulation of Utilities (CRU).
Another boon for customers switching to Energia is that their website is intuitive to use and customers can manage their energy from their own online account. Energia customers also have the ability to pay bills in advance online with Energia’s Fast Pay function.
If you’re considering switching to one of these new discounted plans from Energia, take a look at our guide which brings you through seven important things to consider when switching energy supplier.
Fix Pay only
Another aspect worth mentioning for those customers considering the switch is that Energia operates by using what is called 'Fix Pay' only. This is when you pay a set amount each month for your energy usage, as opposed to bi-monthly billing based on how much energy you use.
As a result, energy customers could end up owing the company money at the end of the year, or alternatively be in credit
Fix Pay billing is useful for customers who don't want to be hit with large bills during the winter months and you can contact Energia at any time to review your monthly payment amount if you feel it's too high or too low.
Switch & save
You'll be glad to know that comparing the best energy deals on the market is simple with bonkers.ie.
Switching suppliers can be done in a matter of clicks using our energy comparison tool, which could help save the average energy user €449 on their household energy bills.
Before making the switch make sure you've thoroughly researched the best deal for you. All of our comparisons use the most up-to-date information and calculations, regulated by the CRU, so switching with bonkers.ie is easy.
Check out why you should use bonkers.ie right here.
Stay in touch
Are you thinking of switching to Energia? Have any questions? Just ask in the comments below.