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Equalizer payments electric ireland

  • 22-03-2023 10:30am
    #1
    galah
    Registered Users, Registered Users 2 Posts: 2,215 ✭✭✭


    Hi all,

    can anyone here explain how electric Ireland equalizer payments are actually calculated (customer support couldnt tell me what happens).

    Hadnt received a bill since November, today I got the new bill. Charges were 1200 Euro for 123 days. Credit (with the government credit, microgeneration credit and equalizer payments of 148 euro) was around 900 Euro, leaving a bill of 300 Euro extra to pay, which is fine.

    Yet my equalizer payment jumped from 148 Euro a month to 390 Euro a month! Which is excessive, in my view, especially coming into summer, where the solar panels are generating an awful lot of the electricity anyway.

    Electric Ireland say they can't adjust the equalizer manually, it's the system that calculates it. But based on what exactly?

    If I calculate our usage over 17 month (to reflect winter, so from November 2021) (a total of 10100 KWh) and taking this at current full prices (even disregarding the night meter prices), I come to roughly 250 Eur per month, yet the ESB equalizer is way way higher...

    I am totally confused...Anything I can do?

    Cheers!



Comments

  • #2
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    Can't you simply come off the equaliser and pay on a bill be bill basis.

    I suspect that their model still has potential price increases built into it. Forward price pressures stopped in late December and have completely dissipated now with price reductions now expected.



  • #3
    galah
    Registered Users, Registered Users 2 Posts: 2,215 ✭✭✭galah


    Yes, technically that's an option - I did think it was convenient to know how much I'll be paying every month, when it was still around 150 quid - but knowing I'll give them almost 400 every month is mental, even with the price rises we'll never ever use this much, which means I'll be in credit again (and they can work with my money!) until next winter. But really I'd like to understand what their "logic" is based on...



  • #4
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    I think their logic is based on prices rising and up until late December forward prices were showing some potential for very high prices in autumn 2023.

    You hear the media shout that prices fell 41% in January. Yep, 41% from a very high level of almost 70c. Funny how the media forgot that little bit as giving out all the info would not get people riled up.


    I don't know how often they change their figures, but in Dec it was looking like 60c+ per unit for next autumn/winter and currently it is looking at 25c-30c for autumn down from 35c-40c forward pricing in January.



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