Cheapest Electricity Supplier

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dublinwoman72

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Just wondering who is the cheapest electricity only supplier at the moment? I am with SSE Airtricity at the moment with a unit price of €0.2965 exc VAT and a standing charge of €0.60 per day exc VAT but this runs out in 2 weeks time. Comparison sites seem not to be working at the moment
 
I am switching to waterpower at the moment from elec ire. From the limited research i did, i think theuwere working out quite good.
 
It is constantly changing, but this Flogas Community Plan is one of the better ones, 30cent on a 24 hour meter, most other plans are 40cent +, and this plan is 1 year fixed, so no surprises.

or, even better is 33/15, for those on a day/night meter.

Bonkers is great, but many plans do not show up on it, as they don’t get referral commission, on a bunch of low cost plans, its worth checking of course, but it is not the full picture

www.flogas.ie

Switch to our best electricity | Flogas Energy | Flogas

Find the cheapest electricity price plan for you and switch to Flogas Energy today
www.flogas.ie www.flogas.ie

There is also a new entrant enroute to the market, they are apparently launching soon:

Gas & Electricity Provider Ireland: Putting More Money in Your Pocket

Switch to Yuno Energy, Ireland’s newest electricity and gas provider, and enjoy complete control of your usage, payments, and spending. Sign up today
yunoenergy.ie yunoenergy.ie
 
fayf said:
this plan is 1 year fixed, so no surprises
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The general consensus is that domestic electricity prices are overdue a significant decrease so a fixed cost plan is possibly not the best option at present.
 
llgon said:
The general consensus is that domestic electricity prices are overdue a significant decrease so a fixed cost plan is possibly not the best option at present
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nest egg said:
It's only €50 to break out of a contract, so if rates do fall significantly, you can always move.
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I have been holding off moving to a cheaper new plan for a short while thinking that there would be a decrease but with Ministers mentioning more Government allowances this winter one would have to wonder if they have the power at all to make these companies reduce their prices. Beginning to agree that the €50 penalty route is the way to go.
 
Has anyone tried Water Power? www.waterpower.ie

They don't provide fixed prices online but I emailed them and they basically provide the wholesale market price plus a margin with a 60c urban/80c rural + VAT daily standing charge. The standing charge is low and the unit charge over the last eighteen months has been below most months what you would get with a normal provided.

The unit price seems pretty cheap but you are not insured against a price spike like with a fixed rate plan. On the other hand they explained you can leave at any point with no penalty.

A friend of mine who works in utility markets says it seems like a good offer but I'm wondering if there is a catch.
 
NoRegretsCoyote said:
Has anyone tried Water Power? www.waterpower.ie

They don't provide fixed prices online but I emailed them and they basically provide the wholesale market price plus a margin with a 60c urban/80c rural + VAT daily standing charge. The standing charge is low and the unit charge over the last eighteen months has been below most months what you would get with a normal provided.

The unit price seems pretty cheap but you are not insured against a price spike like with a fixed rate plan. On the other hand they explained you can leave at any point with no penalty.

A friend of mine who works in utility markets says it seems like a good offer but I'm wondering if there is a catch.
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Big risk though of a winter spike in their variable rates
 
No catch as such, but people need to be aware, that they operate a totally different pricing model, but i read, they are generally compeditive, but as they are a varying wholesale price setup, they can change the unit rates either up, or down, and they change them regularly. This just means, you would want to be checking regularly, that you are getting good value, thats all.
Risks of price spikes are possible, but you get the benefit of wholesale price reductions also.

The no penalty leaving, is a unique feature, and they also have a low standing charge, the most recent i saw was Waterpower were charging €238 inc vat, standing charge pa,for a day/night rate meter, which is about €50 lower than what i am currently paying with Energia EV fixed tariff.

It could well be the way things are going, this varying pricing model, and we all may need to adjust, to this new pricing model.

I send off for a quote myself, as my current tariff ends early next month. I read, as the unit rates vary, they send you the last 12 months historical rates.
 
fayf said:
It could well be the way things are going, this varying pricing model, and we all may need to adjust, to this new pricing model.
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Yeah I would keep a casual eye on wholesale prices in a way that most customers probably wouldn't, so it might suit me as a product.
 
interesting option suppose it involves constantly monitoring what the price is though. Wonder if it is available in their website etc. No point ringing up every month and being kept on hold all the time
 
dublinwoman72 said:
Wonder if it is available in their website etc.
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It's not.I emailed them and got a response within an hour explaining the tariff structure.

It does depend on your meter type - they needed my MPRN before they explained it.

dublinwoman72 said:
No point ringing up every month and being kept on hold all the time
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They said you can monitor it on the Eirgrid website but their own margin is not transparent, that's true.
 
_OkGo_ said:
Any links to a good source for wholesale price data?
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You can look at the day-ahead price here.

This allows you to monitor ups and downs but without knowing the provider's retail pricing function it's guess work to some extent.

You could, for example, opt out if the wholesale price tripled over the space of a few weeks and you had good reason to believe it would be sustained.

It doesn't look like a product for a naïve customer though.
 
Just got the quote from Waterpower.

Note- I’m looking specifically, for a day/night rate.

They provide a 19 month history of rates, from January 2022 up to July 2023. One can see rates are trending downwards.

The July 2023 day/night rates were 27.91/20.27 inc vat, the highest price spike, was in August 2022, when rates shot up to 61.64/ 49.60 inc vat.

and the 7 month average for Day/Night rates for Jan to July 2023, is 30.70 Day, and 20.27 night, inc vat.

I’l pass for the moment, as Flogas Community rates, are fixed for 1 year, at 33.38 day & 14.75 night inc vat, and i use on average, over 50 % on night rates.
 
fayf said:
Just got the quote from Waterpower.

Note- I’m looking specifically, for a day/night rate.

They provide a 19 month history of rates, from January 2022 up to July 2023. One can see rates are trending downwards.

The July 2023 day/night rates were 27.91/20.27 inc vat, the highest price spike, was in August 2022, when rates shot up to 61.64/ 49.60 inc vat.

and the 7 month average for Day/Night rates for Jan to July 2023, is 30.70 Day, and 20.27 night, inc vat.

I’l pass for the moment, as Flogas Community rates, are fixed for 1 year, at 33.38 day & 14.75 night inc vat, and i use on average, eaover 50 % on night rates.
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When I search for flogas community , I get the error 404. Is the plan expired already?


https://www.flogas.ie/team-ireland-community-page/team-ireland-fixed-smart-electricity-1-yr.html (Team Ireland - Fixed Smart Electricity 1 YR)​

https://www.flogas.ie/team-ireland-community-page/team-ireland-fixed-smart-electricity-1-yr.html (Flogas<br /> https://www.flogas.ie › team-ireland-community-page)
 
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