CRU report finds energy switchers could have saved over €1,400 in the last four years
Active customers can make huge savings - but majority of customers still don't switch.
The Commission for Regulation of Utilities (CRU)’s annual Electricity and Gas Retail Market Report is published today, and there are some interesting findings in it around switching.
Switcher.ie always encourages consumers to switch energy each year in order to make the biggest savings on these bills, and the CRU has found that average dual fuel customers who did so every year for the past four years would have saved a massive €1,400.
Research carried out for Switcher.ie has shown that fear factors put many of us off switching. These include a worry that switching will be too time-consuming, and an uncertainty about how much can be saved. Many of us are also worried about a loss in supply.
In fact, switching using Switcher.ie’s accredited price comparison tool only takes around 5 minutes, and you’ll clearly be able to see the savings you can make. At the moment, the average dual fuel customer can save up to €258 by switching from standard tariffs to the cheapest deals on the market.
On top of this, it’s important to note that all suppliers use the same pipes and cables to supply energy to your home, so there’s no need to worry about a loss in service, either.
According to the CRU, the average electricity bill rose by 6% in 2017. On top of this, we’ve just had a round price hikes - with SSE Airtricity, Electric Ireland, Flogas, Energia, Panda Power and Pinergy - which will add up to €180 onto the average dual fuel bill. These increases will be coming into effect later in the summer.
We’ve obviously in the middle of a period of sunny, dry weather at the moment, so electricity and gas bills are probably the last thing on your mind, but it won’t be long before these increases start to bite, especially when colder weather and dark evenings start to draw in.
Obviously, there are huge savings to be made by regularly switching, so if you haven’t done so in a while, it’s really important to take action now.
Switching to the cheapest deal now will ensure you’re getting the best discount on your energy bills as we come into the winter months, which could save you hundreds of euro.
Once you switch, make sure to take the note of the date and switch again in a year’s time. This will help you to ensure you’re making the biggest possible savings year-on-year and not overpaying on your energy.
Questions about switching? Our dedicated guides can help you get started.