Energy prices in Ireland can be high, but there are ways to cut costs. Many households overpay because they don’t check their plans or upgrade their homes. Here’s how to save money on your energy bills.
1. Renew Every 12 Months
Energy suppliers offer discounts for new customers. These discounts usually last 12 months.
If you stay on the same plan after a year, you will likely be moved to a higher standard rate. To avoid this, compare offers and switch suppliers every year.
2. Pick the Best Plan
Not all plans are the same. Some suppliers offer:
- Discounted unit rates
- Lower standing charges
- Fixed rates that protect you from price hikes
Use comparison websites like myBillHero.ie to find the cheapest plan for your usage.
3. Understand Your Bill
Your energy bill has key charges:
- Unit Rate – The price per kWh of electricity or gas you use.
- Standing Charge – A daily fee for being connected.
- VAT – Charged at 9% on your total bill.
Some plans may have hidden fees. Always check the full price per year before signing up.
4. Monitor the Market
Energy prices go up and down. Some suppliers lower rates to attract customers. Others increase prices when wholesale costs rise.
Keep an eye on news about energy prices and switch when a better deal appears. If rates are expected to rise, consider a fixed-rate plan to lock in current prices.
5. Upgrade Your Home for Microgeneration
The Irish government supports microgeneration, allowing households to produce their own electricity with solar panels.
If you generate extra energy, you can sell it back to the grid under the Microgeneration Support Scheme (MSS). This can reduce your bills and even earn you money.
Grants are available from the Sustainable Energy Authority of Ireland (SEAI) to help with the cost of solar panels and home energy upgrades.
Summary
- Switch suppliers every 12 months to avoid higher rates.
- Choose a plan with the best discount and lowest standing charge.
- Learn how to read your bill so you don’t overpay.
- Watch the market and switch when prices drop.
- Consider solar panels to reduce costs and sell power back.
Making these changes can cut your energy costs without sacrificing comfort. Need help picking a plan? Check comparison sites or talk to an energy expert.