Electricity prices on the way down?

mollymac57

SSE Airtricity announce price reduction from 1 May. My contract with BGE is up in April so I hope others will follow soon for the best deal.
SSE Customer Notice: Our standard unit rates for home electricity and gas customers are reducing from 1 May. For more information, please click
https://www.sseairtricity.com/news/sse-airtricity-to-reduce-household-energy-costs-from-1-may

og2k7

Just checked EI:

Price reduction for homes so looks like it

We recently announced that we are reducing our prices. From 1st April electricity rates will be reduced by 2.5% and gas by 11.5%, which will mean that people spending more time at home will be less impacted by energy bills.

https://www.electricireland.ie/news/article/electric-ireland---Helping-our-Customers

_Whimsical_

I was just thinking about this earlier.

I signed up for the One Big Switch thing but now it looks like I'll be locked into a year of quite high prices. Anyone who signed up know if that's the case ?

b.gud

Bord Gais too https://www.bordgaisenergy.ie/news/price-change-march-2020

melekalikimaka

_Whimsical_ wrote: »

I was just thinking about this earlier.

I signed up for the One Big Switch thing but now it looks like I'll be locked into a year of quite high prices. Anyone who signed up know if that's the case ?

if your supplier drops prices - i imagine all will, you will see the savings also

clevtrev

_Whimsical_ wrote: »

I was just thinking about this earlier.

I signed up for the One Big Switch thing but now it looks like I'll be locked into a year of quite high prices. Anyone who signed up know if that's the case ?

I assume that rates are fixed for the term of the contract. You will have to wait til next year to get any benefit from the drop in prices

Scottie99

clevtrev wrote: »

I assume that rates are fixed for the term of the contract. You will have to wait til next year to get any benefit from the drop in prices

Not necessarily. Often there’s a small fee for breaking the contract. They should do the sums and see if it’s worthwhile..

clevtrev

Scottie99 wrote: »

Not necessarily. Often there’s a small fee for breaking the contract. They should do the sums and see if it’s worthwhile..

thats true generally 50 quid to cancel. Given the proposed price decreases are in the realm of 2-5% then it will not generally be work cancelling unless you are a heavy user

dhaughton99

The Govt will come up with another green initiative to take it off you.

Darc19

Just like oil to fuel, the gas prices don't make a massive difference to electricity prices.

Where I work electricity is bought on a wholesale basis plus "pass through costs"

These pass through costs are 7.2c per unit, the agency fee is 1c (that's what goes to the supplier) and the electricity is just under 6c

So about 14c + vat and its a biggish user. (30k + bill a month)

ted1

Darc19 wrote: »

Just like oil to fuel, the gas prices don't make a massive difference to electricity prices.

Where I work electricity is bought on a wholesale basis plus "pass through costs"

These pass through costs are 7.2c per unit, the agency fee is 1c (that's what goes to the supplier) and the electricity is just under 6c

So about 14c + vat and its a biggish user. (30k + bill a month)

Yep the TUoS ( Eirgrid fee for transmission ) and DUoS ( ESB Networks fee for Distribution ) make up a good chunk of the fee. Then add standing charge , carbon levy and PSO levy and the cost per unit isn’t to influential, Also 30% is renewables do not gas related

the corpo

Considering changing from night rate, now that we're both working at home in the daytime and the kids have consoles/tv etc fired up too.
Where's best to figure out usage rates and costs? And is there much cost to change the meter?

Tusky

A couple of weeks ago FloGas was showing up as cheapest for me but now it's Electric Ireland.

evolveDD

the mother received 120 euro check from her electric provider. how nice of them

uli84

About to change the provider, should i wait? Have electric car so bills do get high

lowbatt07

Have flogas announced any cuts to gas rates?

JabbaTheHut

the corpo wrote: »

Considering changing from night rate, now that we're both working at home in the daytime and the kids have consoles/tv etc fired up too.
Where's best to figure out usage rates and costs? And is there much cost to change the meter?

I can't remember exactly, but I asked that question recently of the ESB, and I think it was in the ballpark of €400, or so. I know it's not cheap. Best check yourself though as my memory is questionable at the best of times.

evolveDD

uli84 wrote: »

About to change the provider, should i wait? Have electric car so bills do get high

just curious.. how much is high and what type of car? Just curious my man. Thanks for sharing knowledge

b.gud

uli84 wrote: »

About to change the provider, should i wait? Have electric car so bills do get high

If you don't already have one make sure you get a night time meter. Most electric cars allow you to specify a time when they take charge so you can do it so that it will charge at the might rate when it's cheaper