With the introduction of the new Flogas 22% Direct Debit Discount deal today, it is now possible for an average household to save €402 on gas and electricity bills compared to standard rates - the largest savings available since deregulation.
Flogas has today launched a new gas deal which offers a 22% discount for customers paying by direct debit.
The new deal, which has the largest discount ever made available by Flogas, could save an average household €176 on their gas bills in the coming year. When the offer is combined with the best electricity deal in the marketplace, total household energy savings could reach €402 for an average customer.
Cheapest gas prices
Flogas has consistently offered good value to gas customers and has typically been one of the country’s cheapest gas suppliers. The company’s move to increase its top discount to 22% appears to be in response to SSE Airtricity’s recent launch of a 20% discount gas deal which beat Flogas to the top spot for savings – until today.
New and larger gas discounts offered by both SSE Airtricity and Flogas are a good sign that there is healthy competition for gas customers right now.
Wholesale price increases
The new discounted gas offers from Flogas and SSE Airtricity are very interesting because wholesale gas prices, which are a good predictor of the prices households will pay in the near future, have been going up throughout the winter.
Between September and November 2016 wholesale gas prices increased by a whopping 77%, which would normally indicate that gas price increases are on the way for households, so Flogas and SSE Airtricity’s offers of even bigger discounts at this time should be welcomed.
Flogas 22% Direct Debit Discount – all the details you need
Customers signing up to the new Flogas 22% Direct Debit Discount deal can expect to pay 3.824 cent per unit (kWh) ex-VAT, and a standing charge of €79.91 ex-VAT. When all charges and taxes are taken into account, an average customer using 13,800 units of gas per year will spend €747.60 over the next 12 months.
Customers that are currently paying legacy standard rates could expect to pay €923.72 per year for the same 13,800 units of gas, so switching to the Flogas 22% Direct Debit Discount deal should save an average household €176 over the next 12 months.
Largest energy savings since deregulation now available to switchers
Customers can now save more money over standard rates than at any time since the domestic electricity and gas markets were deregulated. It is now possible to save €402 over legacy standard rates by switching to the cheapest gas and electricity deals available. This equates to savings of €33.50 per month.
For customers that would prefer the convenience of taking gas and electricity from one supplier, the best dual fuel tariff available will save €323 over those standard rates.
And of course, you can compare your current gas and electricity providers to all other providers and deals in the marketplace and then switch right here on bonkers.ie.