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Choosing new electricity supplier, (N. Ireland, average usage of 2500kwh per year)
Hi,
Usually I can plot things on spreadsheet myself but this time it's different due to how quickly and unpredictably prices keep rising.
I am currently with SSE Airtricity (DD/Online -20%) deal which is due to end in few days time. As I am existing customer, I now only qualify for 10% discount if I renew.
I know my average electricity usage is on average 210 units per month and very unlikely to change. I compared electricity suppliers in NI and came up with this:
Normally at this point I would choose the cheapest one and call it a day however:
1. Electric Ireland despite being the cheapest, had it's latest price hike back in May. If prices rise again, I expect them to be first to rise it.
2. PowerNI doesn't look the best however their rate will rise to 27p only from 1 July, so they are very slow to increase their prices. Also, there is no fixed term contract with PowerNI.
3. PowerNI will rise their rates on 1st July and they have no exit fees, so maybe it would be good idea to switch to them for another month or two and see what Electric Ireland and SSE will do in the meantime?
In my spreadsheet I tried to use latest/soon to go live rates.
Is there anything else I should consider? I am basically trying to predict here who is going to increase prices first, and therefore who will end up the cheapest for me for 1 June 2022-2023 period.
Usually I can plot things on spreadsheet myself but this time it's different due to how quickly and unpredictably prices keep rising.
I am currently with SSE Airtricity (DD/Online -20%) deal which is due to end in few days time. As I am existing customer, I now only qualify for 10% discount if I renew.
I know my average electricity usage is on average 210 units per month and very unlikely to change. I compared electricity suppliers in NI and came up with this:
Normally at this point I would choose the cheapest one and call it a day however:
1. Electric Ireland despite being the cheapest, had it's latest price hike back in May. If prices rise again, I expect them to be first to rise it.
2. PowerNI doesn't look the best however their rate will rise to 27p only from 1 July, so they are very slow to increase their prices. Also, there is no fixed term contract with PowerNI.
3. PowerNI will rise their rates on 1st July and they have no exit fees, so maybe it would be good idea to switch to them for another month or two and see what Electric Ireland and SSE will do in the meantime?
In my spreadsheet I tried to use latest/soon to go live rates.
Is there anything else I should consider? I am basically trying to predict here who is going to increase prices first, and therefore who will end up the cheapest for me for 1 June 2022-2023 period.
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