With electricity prices increasing more than 2.5 times and wholesale gas prices increasing almost four times in this year alone, people have been eager to switch energy providers to try to save money.
Data from the CRU shows that a record 14.5 per cent of electricity customers and 17 per cent of gas customers changed suppliers this year. By switching from a standard tariff to a discounted rate, the CRU said a domestic customer could have saved an average of €581 for electricity last year and €316 for gas.
In addition to discounts, some suppliers also offer other incentives to new customers, such as welcome credit or vouchers. However, when this discount period ends, you’ll pay the standard rate, which is often much higher.
