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Electricity prices on the way down?

Comments

  • #2
    og2k7
    Registered Users Posts: 415 ✭✭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


  • #3
    _Whimsical_
    Registered Users, Registered Users 2 Posts: 7,958 ✭✭✭_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 ?


  • #4
    b.gud
    Registered Users Posts: 4,817 ✭✭✭b.gud


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


  • #5
    melekalikimaka
    Moderators, Education Moderators, Music Moderators Posts: 10,686 Mod ✭✭✭✭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


  • #6
    clevtrev
    Registered Users, Registered Users 2 Posts: 633 ✭✭✭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


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  • #7
    Scottie99
    Registered Users, Registered Users 2 Posts: 1,284 ✭✭✭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..


  • #8
    clevtrev
    Registered Users, Registered Users 2 Posts: 633 ✭✭✭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


  • #9
    dhaughton99
    Registered Users, Registered Users 2 Posts: 1,696 ✭✭✭dhaughton99


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


  • #10
    Darc19
    Registered Users, Registered Users 2 Posts: 3,817 ✭✭✭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)


  • #11
    ted1
    Registered Users, Registered Users 2 Posts: 23,658 ✭✭✭✭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


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  • #12
    the corpo
    Registered Users, Registered Users 2 Posts: 1,790 ✭✭✭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?


  • #13
    Tusky
    Registered Users, Registered Users 2 Posts: 17,065 ✭✭✭✭Tusky


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


  • #14
    evolveDD
    Banned (with Prison Access) Posts: 236 ✭✭evolveDD


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


  • #15
    uli84
    Registered Users, Registered Users 2 Posts: 1,711 ✭✭✭uli84


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


  • #16
    lowbatt07
    Registered Users Posts: 186 ✭✭lowbatt07


    Have flogas announced any cuts to gas rates?


  • #17
    JabbaTheHut
    Registered Users, Registered Users 2 Posts: 1,214 ✭✭✭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.


  • #18
    evolveDD
    Banned (with Prison Access) Posts: 236 ✭✭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


  • #19
    b.gud
    Registered Users Posts: 4,817 ✭✭✭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


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