Over 132,000 people switched electricity and over 50,000 switched gas in the first half of 2015 – were you one of them?
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We Irish are a loyal bunch, aren’t we? When it comes to things like choosing a tea brand, a football team or even a political party, it takes a lot for us to shift allegiance. And the same can be said for our attitude to gas and electricity suppliers!
But perhaps that’s changing… The CER’s latest report on the gas and electricity markets reveals that people are switching suppliers more than they were last year. Just…
In the domestic market, 132,869 people switched electricity suppliers between January and June this year. That’s an increase of just over 100 from the same period last year.
And the situation in the domestic gas market is similar. A total of 50,552 people switched suppliers in the first half of 2015, which is an increase of 2,000 and a bit on last year.
Which Supplier Attracted The Most Movers?
In Q1 of 2015, Energia attracted the most electricity movers, with nearly 4,500 new customers leaving other suppliers to sign up. In Q2, Electric Ireland attracted about the same number of movers.
It was a strong first three months of the year for Energia in the gas market too, as it attracted over 7,000 customers from rival suppliers in the period, making it the most popular company for gas movers in Q1. Bord Gáis Energy came first in the battle for gas movers in Q2.
85% of People Are Likely On Standard Rates
While the number of Irish people switching gas and/or electricity suppliers is slightly up on last year, about 85% of the population haven’t switched in the past year, meaning they are likely paying more than they have to.
The vast majority of energy discounts expire after a year, and when this happens, customers are moved to expensive standard rates. So, the key to staying ahead of these price-moves is to compare and switch regularly.
And there’s no time like the present!
What Are The Best Deals On Offer?
There are some very competitive prices available this winter, as companies try to attract new customers at a time when gas and electricity bills tend to be at their highest.
Energia is currently offering an online exclusive 24% discount to new customers who sign up through bonkers.ie. This deal will see the average Irish household paying about €987 over the next year for electricity, including taxes, Standing Charge and PSO Levy. And that’s a saving of €194 against standard rates.
At €798 a year for the average household (including taxes and Standing Charge), Flogas is currently offering the cheapest gas tariff on the market. Switching to that supplier will save someone on standard rates over €145 in their first year.
Altogether, that adds up to a saving of nearly €340 on energy bills.
Is your loyalty really worth that much?