Irish Households Urged to Switch Energy Suppliers Amid Price Hikes, Saving Up to €800 Annually

Irish households are encouraged to switch energy suppliers to save hundreds of euros annually, as electricity and gas prices continue to rise. Electric Ireland announced an 8% increase for electricity and 7.7% for gas from July 1, affecting over 1.2 million customers. Yuno Energy also confirmed price hikes for its 100,000 customers, with electricity up 9.5% and gas up 11% on estimated annual bills.

Ireland has the highest household electricity prices in the EU, nearly 40% above the average. Many households overpay because they have never switched suppliers. Daragh Cassidy of Bonkers.ie notes that those who haven't switched in years are likely on expensive standard rates, having missed out on introductory discounts.

Switching is a quick, free, and online process, taking minutes without service interruption. Customers need their Meter Point Registration Number (MPRN) for electricity, Gas Point Registration Number (GPRN) for gas, a recent meter reading, their latest bill, and bank details. While some contracts may have exit fees up to €100 per fuel, savings often outweigh these costs.

The Commission for Regulation of Utilities (CRU) advises checking current deals, contacting existing suppliers for better offers, and then using CRU-approved comparison websites. There are 11 main suppliers in Ireland. The process takes a few days, with a 14-day cooling-off period. Households switching both gas and electricity can save €500-€600 annually, with some saving up to €800.