Numbers switching energy provider fell to lowest ever earlier this year

Just 4,070 households changed their supplier in April 2023, down from over 24,000 in the same month a year earlier.

The number of people changing their energy provider fell to the lowest level ever recorded earlier this year as customers waited to get their €200 Government energy credit.

New figures show just 4,070 households changed their supplier in April 2023, down from over 24,000 in the same month a year earlier.

The data, published by the Commission for the Regulation of Utilities (CRU), also shows a huge rebound in switchers in May and June, but they both remained down on last year, according to the energy regulator.

It said: “A decrease in switching figures was observed in both April and June for gas and electricity suppliers with April 2023 being the lowest electricity switching figures since reporting began [in 2014]. Price is an important factor for a customer in determining which energy supplier will be best suited to their needs.

“The low switching figures in April could be a result of retail energy prices remaining high after a number of price increases in 2022 with no cheaper competitive alternatives available. The final Government electricity credit was also provided to customers in March 2023 which may also be a factor in influencing a customer’s decision not to switch to another supplier until the credit has been given to them.” 

Electricity credit

In the last Budget, it was announced that households would receive a €600 electricity credit across three tranches. The last of these came during the April billing period.

It is widely expected that households will receive a similar credit of at least €200 in the upcoming Budget, due to be delivered next month.

Last month, CRU claimed that households were “missing out” by sticking with the same supplier. 

“By only switching once and not looking at which plan is best suited after the expiration of their discount tariff, customers are missing out on a significant amount of potential cost savings,” it said.

Meanwhile, Gas Networks Ireland said that the changeable weather in August led to a large increase in the contribution made by wind energy to the country’s electricity generation nearly doubling from 19% of energy generated in August last year to 35% this month.

However, gas remained the largest contributor to Ireland’s electricity generation last month, providing 46% during August and peaked at 88% at one point.

On Tuesday, Taoiseach Leo Varadkar and Minister for the Environment Eamon Ryan met with the four largest energy suppliers where they re-emphasised the Government’s concern at persistent high prices for consumers despite large drops in wholesale electricity prices.

Speaking ahead of the meeting, Mr Varadkar said the message is “very clear” that recent price reduction announcements have been welcomed but they are “not enough”.

“I want to see further price reductions announced in the next few months and there will be help in the budget for householders with energy costs using the proceeds from windfall tax,” he said.

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