CRU report shows gas and electricity switches spiked in November
This followed announcements of price increases from seven energy suppliers.
The latest Change of Supplier report from the CRU has just come out and it shows that the numbers of customers switching both gas and electricity spiked in November.
For electricity, the average number of monthly switches in 2017 was 26,221, while November alone had 31,488 switches. Meanwhile, the average number of monthly gas switches in 2017 was 10,477, with 12,587 switches in November.
It’s very likely this is linked to the energy price hikes that were announced between September and November last year - research from Switcher.ie showed six in ten consumers said a price increase would make them switch.
Switching levels in Ireland
In general, switching levels in Ireland tend to remain fairly static, year-on-year, so it’s encouraging to see more people switching.
And, while these switches are likely driven by the price hikes, it’s actually beneficial for people to switch every year, as this is how the biggest savings can be made - so if you’ve switched recently, make a note in your calendar to do so again this time next year.
Save up to €372 by switching gas and electricity
The average gas and electricity customer can save up to €372 by switching from typical standard tariffs to the cheapest deals on the market.
Most energy suppliers offer great discounts to new customers - these generally last for 12 months before you revert to the supplier’s standard tariff, which is typically their most expensive rate.
And, while some suppliers offer ongoing discounts of up to 8.5% for things like paying by Direct Debit or signing up to online billing, you would still make bigger savings by moving to a new supplier, as discounts of up to 33% are available on some plans.
Use less energy in the home
Another way to save on your energy bills is to be as energy-efficient as possible in your home - there are loads of simple energy-saving measures you can take around the home to reduce your consumption, which should help to cut down on your energy spend.