Northern Ireland energy customers could be losing £82 million per year, due to lack of competition.

Northern Ireland energy customers could be losing £82 million per year, due to lack of competition.

The electricity and gas market in Northern Ireland The energy market in Northern Ireland has been shaken up in recent years, with new suppliers creating more competition in the market. This has allowed both individuals and businesses to switch suppliers and find a more competitive rate with greater ease. Have…

The electricity and gas market in Northern Ireland

The energy market in Northern Ireland has been shaken up in recent years, with new suppliers creating more competition in the market. This has allowed both individuals and businesses to switch suppliers and find a more competitive rate with greater ease.

Have you compared the energy rates for your business recently?

Have you switched your supplier to gain better commercial rates?

Do you want to pay more for your energy contracts than you need to?

If you answered no to the above, read on

The energy market in Northern Ireland is regulated and provides relatively stable prices throughout the year. However, it is now thought that the lack of competition in the market could be costing households up to £145 per month, figures for businesses are yet to be determined.

According to the Northern Ireland Utility Regulator, electricity prices are some of the lowest in Europe. However customers choosing to switch supplier to secure a better deal are well below the UK average.

Recent research by Belfast’s Echo Northern Ireland has found that just 28 per cent of households based in the North have switched their supplier in the last year, this is significantly lower than the UK average of 38 per cent.

Compare business energy

Since the energy market opened up in Northern Ireland in 2010, consumers’ choice has increased to five electricity suppliers and two gas suppliers. The five electricity suppliers have challenged the incumbent Power NI, and now have 40% of market share. However, compared with the UK market, choice is limited for customers in Northern Ireland – the UK currently have around 40 suppliers operating in England, Wales and Scotland.  Echo Northern Ireland found that there is an appetite to switch suppliers, and this is where energy consultancies, like Utilitywise can help.

Business energy with Utilitywise

At present there are eight electricity suppliers for businesses in Northern Ireland.  By switching supplier, businesses may be able to negotiate a better contract on price and service. Our aim at Utilitywise is to assist businesses in finding the right type of energy deal for their business, whether that’s electricity, gas or both.

We listen to our customers’ needs, how their business operates, how they use their energy and the improvements they’d like to make in becoming more energy efficient. Our energy consultants will then put together a proposal, offering pricing from a range of suppliers which can provide cost savings for their business. We can also advise on a number of monitoring, reporting and control technologies that can help businesses reduce their energy consumption for longer term benefits to both the business and environment.

Switching is simple with Utilitywise, we ensure the process is hassle free so you can get on with what you do best – running your business. To find out what our customers say about our service click here. Alternatively, you can arrange a call back, where one of energy consultants will walk you through the process. You can also contact us directly on +44 (0) 191 425 7935.

Utilitywise

Posted by on Monday, the 12. February at 16.42