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Gas & Electricity

Summer price hikes see energy customers switching suppliers

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Robyn Hamilton

Robyn Hamilton

Staff Writer

Over the summer we saw eight out of Ireland’s ten energy suppliers make significant price increases, meaning that almost everyone in Ireland will see their energy bills climb this winter. The latest change of supplier report from the Commission for Regulation of Utilities reveals the winners and losers of this latest round of hikes in terms of customer gains and losses.

Every month, the Commission for Regulation of Utilities releases a report detailing the number of customers who changed their energy supplier in that month. August’s report was particularly noteworthy as it revealed the results of the series of price hikes that customers across the country were hit with this summer, when a staggering eight out of Ireland’s 10 energy suppliers increased rates.

Electricity: the biggest gains and losses

Electric Ireland, one of Ireland’s biggest players in the energy market was hit hard with a net loss of 4,114 electricity customers in August after its price increase of 6.2% earlier the same month.

Surprisingly, Bord Gáis Energy faired comparatively very well, coming out of August with a net gain of 3,451 new electricity customers despite its own price increase of 5.8%. The supplier is likely to see this upward trajectory continue if it keeps offering the great value we saw come on the market yesterday with the launch of its two new bonkers.ie exclusive deals.

Gas: CRU report reflects the best and worst of recent price hikes

Of the seven gas suppliers who increased prices this summer, Flogas was one of the worst offenders, hiking its prices by a hefty 12.8%. The hike definitely didn’t go unnoticed with Flogas’s customers, as the supplier lost the most customers out of all the suppliers in August, losing 1,289 customers.

Given that the supplier just yesterday announced that it will be increasing its prices by a further 9.8% later this year in November, (its third price increase in 12 months) it’s looking likely that it will continue to lose customers…

On the other hand, Panda Power was fairly lenient with its gas price increases, bringing them up by just 5.6% and the end of August saw the company come away with 1,090 new gas customers as a result. The player is fairly new to the market, having only launched in the last year.

Is it time to for you to switch?

If you haven’t switched your energy supplier in over 12 months, it means you’re definitely paying more than you have to. Why not join the thousands of energy customers who switch every month and save yourself an average of €289 on your annual energy bills? It takes just minutes using our comparison calculator.

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