The Budget may be fast approaching, with incoming supports aimed at helping households to cope with the rising cost of living, but many are still looking for ways to save on their monthly expenses.
It is well known at this point that energy bills are causing major issues for some, as the price of electricity, gas and heating sky rocket amid the current crisis.
The experts at money guide Ireland have done a price comparison of what is currently available to Irish electricity customers and continue to advise that by doing a comparison of electricity prices and switching to the cheapest deal on an annual basis, “households can save significant amounts of money.”
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Providers nationwide have been announcing price hikes over the past few months, with more likely to come as a year draws to a close.
Consumers can choose from several electricity suppliers such as Energia, SSE Airtricity, Panda or Bord Gais Energy, therefore the electricity switching market in Ireland is very competitive.
At the beginning of September, experts did a Comparison of electricity prices in Ireland for new customers on standard meters and found a substantial difference in costs.
Very High Electricity Usage
A household with more than 5 or 6 people living there could easily use as much as 8000 kwh a year - depending on circumstances such as remote working and so on.
This is almost double the average usage and therefore the most expensive option for customers, even when switching.
At the moment, the best switching deal for very high electricity usage homes comes from Flogas, which charges around €3387 over the first year.
Aside from this option, the next best would be PrePay Power which comes in at €3427 for the first twelve months.
High Electricity Usage
Those living in a household that uses up to 6000 kwH of power per year puts them into the ‘high usage’ category.
Flogas remains the cheapest electricity option for high usage, as over the first year they will work out at €2578.
According to figures obtained at the beginning of September, the next best switching deal for high electricity usage homes is from Electric Ireland which charges €2643 in year one.
Average Electricity Usage
For medium-sized homes that potentially use gas, oil, or solid fuel to heat their home and water, an annual electricity usage of about 4200 Kwh a year would be average.
Flogas is currently the cheapest option for switchers using this amount of energy, and they would be charged €1849 in year one.
Electric Ireland comes in as the second best deal, charging €1912 in year one.
Best for Low Electricity Usage
Smaller households with fewer people will use less electricity, so the typical usage for one or two people in one household that doesn’t use electricity for heating might be 3000kwh per year.
Flogas has the cheapest electricity deal for anyone that falls into this category and charges €1363 over the first year.
Electric Ireland has the second lowest price at €1426 in the first twelve months.
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