5 things you need to know about energy switching
Switching energy supplier is still the quickest way to reduce the size of your energy bills
1. Switching your energy supplier could save you up to €321/yr
The quickest way to cut the cost of your household energy bills is to switch suppliers. Households can save up to €321 per year just by switching to the cheapest energy deal in the market.
Switching supplier before winter arrives is a savvy way to save money. Naturally households consume more energy during the colder months, so switching now will help to reduce your energy bills come the autumn and winter. Bundling gas and electricity is the cheapest option for households. Currently Energia has the cheapest gas and electricity tariff in the market based on the national average consumption. Cheapest dual fuel tariff Energia - SmartChoice Dual Fuel (SAVEME discount) - €1,884 (€321 saving on standard tariff unit rates)
Calculations based on the national average energy consumption. According to the Energy Regulator (CER), the average Irish household uses 13,800 kW/h of gas and 5,300 kW/h of electricity per year. Prices include PSO Levy, Carbon Tax & 13.5% VAT. Prices correct at 19/09/2014.
2. No energy supply interruption when you switch supplier After making the switch, your new supplier will continue to use the same pipes, meters and wires, as your old supplier, so there is no need to worry about an interruption in your gas or electricity supply. The only change you’ll notice will be the name of your new supplier on your next energy bill and CHEAPER BILLS.
3. There is no need to contact your old supplier After applying to switch supplier online, your new supplier will coordinate your switch with your old supplier, and together they will agree a switchover date and inform you when the switch has been completed. Soon after you’ll receive your new welcome pack and the breakdown details of your price plan from your new supplier. The switching process is usually completed in 4 weeks.
4. What do i need to switch online? Despite its reputation for being a complex procedure, energy switching only takes about 5 minutes if you have the correct information to hand. Below is a list of the things you need to switch online.
- MPRN number (it’s located on your electricity bill)
- Latest electricity meter reading
- GPRN number (it’s located on your gas bill)
- Latest gas meter reading
- Bank account details
- Email address
5. Introductory discounts and other incentives Each of the main suppliers, Electric Ireland, Bord Gáis Energy, SSE Airtricity and Energia, all have a range of discounted introductory tariffs available for new customers who opt to switch suppliers. In most cases customers will be required to sign up to a 12 month contract to avail of the lowest discounts. When the 12 month introductory discount period has ended you will automatically be moved onto the energy suppliers more expensive standard unit rates. Some suppliers such as Bord Gáis Energy and SSE promote 24 month contracts offering their customers a reduced discount in year 2 of their contract.
To take advantage of the cheapest gas, electricity or dual fuel options, you’ll need to pay for your energy by Direct Debit and manage your bills online. Energy suppliers save money on administration costs and as a result are able to offer customers higher discounts as a result. The leading energy suppliers in Ireland also offer additional incentives to new and existing customers, such as value reward schemes. These incentivised programs can add even more value for customers on top of energy discounts.