this week we carried an electricity price comparison between the 5 main electricity suppliers in Ireland. As you know we regularly carry out price comparisons for tradesmen related services. While electricity is nothing to do with tradesmen, it is a major cost in any household so we felt it was fitting to carry out this comparison to try and help households save money on their electricity supply costs.
Panda Power is a new electricity supplier who has entered the market recently so it’s a good time to compare prices. While we show standard and saving plans at the top, the summary is based on saving plans combined with you being a new customer and/or signing a fixed term contract. We hope most people would be availing of the saving plans as this is the best way to save money on your electricity bill. You can see the results of the electricity price comparison below:-
|Residential||Price in cent per KwH inc VAT||Price in cent per KwH inc VAT (Existing Customers/Non Contract||Price in cent per KwH inc VAT (New Customer/Contract)|
|Standard||Saving Plans||Saving Plans|
Table 1 displays the Electricity Price Comparison including vat per KwH for standard rate and savings plans for existing customers or new customers/contract customers. Most Saving plans are based on paying by direct debit or credit card and e-bill.
|Using 600 units|
|Using 600 units|
|Using 1200 units|
|Using 1200 units|
As you can see in Table 2 above Bord Gáis are the most expensive. Panda Power followed by Electric Ireland is the cheapest.
|At 600 Units||At 600 Units|
|At 1200 Units||At 1200 Units|
Table 3 above is a summary of the information in Table 1 and Table 2. Again it shows that Bord Gais is the most expensive in our June 2015 electricity price comparison. Panda Power are the cheapest followed by Electric Ireland in second place for new customers and/or fixed term contract.
Electricity Price Comparison Summary
My calculations would indicate that switching away from Bord Gais could save from €204 per annum if you are using 600 units per month and could save up to €408 per annum if you are using 1200 units per month. The Bord Gais price seems so out of line with the other suppliers that I have written to them to ask for clarification and will update you when I get a reply. Switching from Airtricity to Panda Power could save €60 per annum if you are using 600 units per month and €120 per annum if you are using 1200 units per month. No matter which provider you are with, it pays to switch to direct debit and online billing (ebill) to avail of the maximum savings from all suppliers.
Although Electric Ireland have the second lowest price for new customers, they have one of the highest charges for existing customers. If you are currently paying 17.32cent/KwH with Electric Ireland on 600 units/month, you would save about €110 per annum by switching to Panda Power or you would save about €70 per annum by switching to Energia.
On the examples above you can save up to €200 per annum by switching to direct
debit and online billing. So make sure to make that switch if you haven’t done so already. If anyone has any comments or questions or if you disagree with any of my calculations please feel free to post your comments below. To bookmark this page press CTRL+D in Internet Explorer, Chrome or Firefox. Please tweet or share this article if you found it useful.
You can see our article on how to save electricity costs using insulation and other smart energy ideas here.
19th June 2015
References Data for this article was obtained from the following official websites:-
E&OE. Oliver Dempsey and Tradesmen.ie are not affiliated with any of these
companies. Prices were taken from the supplier websites on 17 June 2015.
Here are some other articles that you might be interested in below:-