In spite of suppliers significantly reducing discounts for switching, the Commission for the Regulation of Utilities (CRU) discovered a difference of approximately €900 between the most and least expensive energy providers in Ireland.
Electric Ireland offers the cheapest standard domestic electricity tariffs at €2,023 per year, while Flogas has the most expensive plan at €2,886, according to the regulator.
For gas tariffs, SSE Airtricity has the cheapest standard domestic prices at €1,838, with Flogas offering the most expensive plan at €2,699.
Electric Ireland also offers the cheapest dual-fuel tariff at €3,933, while Flogas charges the highest amount at €5,585.
However, Flogas provides the most affordable smart Time of Use (TOU) tariffs with its smart rate electricity plan priced at €1,670.
As part of its requirements, the CRU mandates suppliers to estimate annual energy bills for the average household, covering all aspects of energy offers except for non-energy items such as loyalty points.
CRU Director Karen Trant emphasizes the importance of switching or renegotiating tariffs to maximize savings.
Proposals from the energy regulator suggest a potential decrease of €11 in electricity bills next year, compared to the €90 reduction in bills this year.
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Renewable energy suppliers benefited from windfall gains last year, leading to a zero Public Service Obligation (PSO) levy imposed on bills. However, this year’s drop in wholesale energy costs will result in a modest refund of just €11 through the PSO levy.
Consumers may be disappointed as the reduction in wholesale energy costs has not been passed on to them by suppliers.
The CRU’s proposals regarding the PSO levy can be found in their 42-page technical document.
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