Electric Ireland to cut electricity and gas prices from November (2024)

Why the 5% reduction in smart-meter plans as against 3% for the traditional plan? I wonder is the uptake lower than anticipated? Are the stories of huge bills acting as deterrants
 
Gets rid of the estimated bills maybe.

Some of these stories of huge bills don't make a lot of sense. Might be a bit more expensive (or cheaper). But shouldn't be a huge variation.
 
I'm out of contact with electric Ireland for a few months and wasn't sure about moving to a fixed cheaper rate with someone else in case prices decreased.

I looked at a comparison site, again, this week and electric Ireland are giving a 30% discount to existing customers. I took that deal by phoning them directly.

Is this a new deal? I should have taken it months ago. Has this always been available?
 
AlbacoreA said:
Gets rid of the estimated bills maybe.

Some of these stories of huge bills don't make a lot of sense. Might be a bit more expensive (or cheaper). But shouldn't be a huge variation.
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Yes , it's probably the case that many people were paying lower bills than their actual usage and the discrepancy was only rectified when meter was read before being changed.
 
Homepayer said:
Is this a new deal? I should have taken it months ago. Has this always been available?
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I'm on 24% from last February so 30% seems like a better deal as long as they are not saying your total saving after the change is 30%.
Note though that EI are still one of the higher standing charge which is not included in the 30% reduction. They also announced that the new decrease is for electric units only.
 
Homepayer said:
I looked at a comparison site, again, this week and electric Ireland are giving a 30% discount to existing customers. I took that deal by phoning them directly.
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If you have a smart meter then you should also check the smart plans available using energypal.ie.

Energy Usage Analysis - EnergyPal.ie

I saw https://www.energypal.ie/ listed on twitter as a way of analysing your data from ESB Networks once you have a smart meter installed, Doesnt have to be activated. You download your HDF file and then upload it to the site above and it gives you a heat map of your usage by day and hour, and...
www.askaboutmoney.com
You should have a 14 day cooling off period on the new contract with Electric Ireland in case you find something better.
 
Sue Ellen said:
Is it not a case though that the rates they are quoting are more important than the reduction percentage?
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The standing charge and the unit rate (after any discounts from the base rate) that is ultimately paid by the customer are all that matter. (Well, and the time of day usage patterns for day/night or smart plans).
 
Sue Ellen said:
Is it not a case though that the rates they are quoting are more important than the reduction percentage?
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As I said though, they rarely touch the standing charge and usually decrease the base rate which means everyone gets the 3% on the unit rate. The 30% is the sales gimmick but I've just noticed the post above where the poster said they are giving current customers this so I will check it out.
 
Homepayer said:
I'm out of contact with electric Ireland for a few months and wasn't sure about moving to a fixed cheaper rate with someone else in case prices decreased.

I looked at a comparison site, again, this week and electric Ireland are giving a 30% discount to existing customers. I took that deal by phoning them directly.

Is this a new deal? I should have taken it months ago. Has this always been available?
Click to expand...
you will get the 5% reduction on the main unit rate like everyone else. (unless fixed which I don't think EI offers to domestic) The 30% discount is off the new lower rate.

Whilst I enjoy a similar (26%) discount, I think its unfair that we are being subsidised by those who don't check for better rates and they are probably the ones that need the batter rates.

A max discount of 15% for new / retaining customers is probably warranted and that would see the general rate fall circa 15-20% instead of 5%.
 
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