Is the cost of electricity still that high??

BrokeBroker said:
The government credits are now being applied to accounts.
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It would appear to have been credited already by most of the providers. They do mention up to 31st December in that article.

I know El Irl applied ours before we moved to Bord Gais recently. I think I read somewhere that Bord Gais hoped to have applied them by mid-December.

A friend told me that Energia had applied theirs.

ESB Networks make the payments to the companies so if you do run into problems you could check it out with either the providers, ESB Networks or the Regulator.
 
Aren't they applied in three installments?

I got one already, but I believe two more are due.
  • 29 Nov 2023
  • 20 Dec 2023
  • 28 Feb 2024
According to Energia.
 
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I can confirm that 2 of the €150 credits have now been applied to my Energia account.


I'll be looking at my switching supplier options later this month, can anyone suggest a link to a single location where all of the current FITs can be seen, please?
 
I can highly recommend Waterpower.ie for anyone with a smart meter. Waterpower’s unit price tracks the wholesale price of electricity with a margin. There is no contract, and you are free to leave at any point.

My 24-hour unit rate has been (VAT-exclusive)

September: 26.51c
October: 25.09c
November: 25.25c

Urban daily standing charge is 65c excluding VAT.

For my consumption (approx 4,500 kWh per annum) I think there is no cheaper deal out there.
 
Sue Ellen said:
Would www.energypal.ie suffice? See this thread for instructions for downloading from on-line account with in your case Energia.

I used to think that Bonkers and Switcher were sufficient but they appear to only quote certain deals.
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Thanks for replying. I agree about Bonkers and Switcher, both of which I have used satisfactorily in the past but aren't as much help these days as the market has got a lot more complex.

I have also used the energypal.ie website and have uploaded my HDF from ESB Networks (ironically, when I asked Energia to supply the information they told me that they were having problems so sent me to the ESB site!)

But what I'm looking on this occasion is lot more straightforward: a list of the FIT rate per unit paid by each electricity supplier. I would have thought that such information would be easy to find, but as yet I haven't managed it!
 
They haven't been taking on any new customers since the summer of 2023 !
 
The feed in tarrif for each provider per kw is on the bonkers website

Everything you need to know about the micro-generation scheme

The micro-generation scheme allows households to be paid money for selling on any excess renewable electricity they generate.
www.bonkers.ie


SupplierPrice paid per kWh
SSE Airtricity34 cent*
Pinergy 25 cent
Energia 24 cent
Flogas 22 cent
Electric Ireland21 cent
Community Power20 cent
Bord Gáis Energy 18.5 cent
Yuno Energy 15.89 cent
Prepaypower15.89 cent
 
demoivre said:
They haven't been taking on any new customers since the summer of 2023 !
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I got in just in time as they took me on at the end of August 2023.

I’ve dealt with them over the phone and they are really helpful but it seems to be literally all members of the same family!

I hope they can scale up as there really is a market for their product at retail level. Personally I can deal with swings in electricity prices and don’t need to be paying Electric Ireland or other providers for hedging contracts.
 
I moved to SSE airtricity, then Energia got back to me with a higher discount rate and cash back incentive, so stayed with them.

Bonkers.ie price calculators seemed to be factoring in a decrease in unit rate charges in later months.

I think that only applies to each provider, so curious to know do Energia intend to drop their unit rate, as SSE airtricity do?
 
Yuno lowering their fixed prices again with the new 12 month fixed rate tariff for urban 24 hr meters coming in at 28.93 c/kWh including VAT . Standing charge €264.73 including VAT.
 
demoivre said:
Yuno lowering their fixed prices again with the new 12 month fixed rate tariff for urban 24 hr meters coming in at 28.93 c/kWh including VAT . Standing charge €264.73 including VAT.
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Great to see this hopefully EI,BGE and Energia follow suit quickly. Does the Yuno decrease apply to existing customer or just new customers?
 
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Just be aware that there can be risks to signing up to new entrants that undercut others on prices. Their business model is often to enter the market at a time where wholesale prices are reduced in order to under cut existing suppliers who have had to pay higher costs in the past and continue to 'feel' them through hedging. If prices increase their 'riskier' strategies can leave them more exposed to changes in the spot prices, causing them to struggle to live up to their cheaper offerings, potentially leaving the market and resulting in a supplier of last resort event. Customers will then be transferred to another supplier at their higher standard (non-discounted) rate and wont be able to leave for 90 days. You can read more here. Thankfully it hasn't been as widespread in Ireland as the UK in recent years. Just something to be mindful of.
 
Fair points. Yuno's customer sign up target up to December which they have surpassed but would still be considered a small player. Small players don't usually offer customers the same protection as bigger ones when prices are rising. Also small players like Panda and Ibedrola left the market quickly in 2022 as prices rise rapidly.
 
Interesting. Where can you find the spot price, and how much margin do they take?
 
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