Otis Singleton
With energy prices on the rise, it's important to know how to get the best deal on your electricity supply. In Northern Ireland, there are six electricity providers to choose from, and switching suppliers or changing billing methods can result in huge savings. There are a number of price comparison tools available to help you find the cheapest supplier for your needs, including the Consumer Council for Northern Ireland's tool, Power to Switch, and Uswitch. These tools allow you to compare prices and deals based on your usage, location, and preferences, such as green energy or cashback offers.
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What You'll Learn
Switching suppliers
Switching electricity suppliers in Northern Ireland
There are a few things to keep in mind when switching electricity suppliers in Northern Ireland. Firstly, it is important to know that there is no one-size-fits-all cheapest supplier. The best deal for you will depend on your individual circumstances, such as your energy usage and location. However, by switching suppliers, you could save a significant amount of money on your electricity bill.
To find the best deal for you, it is recommended to use a price comparison tool, such as the Consumer Council for Northern Ireland's tool or Power to Switch. These tools will help you compare prices and deals from different suppliers based on your specific needs and preferences. For example, you may want to consider factors such as cashback offers, fixed-price deals, or renewable energy sources when choosing a supplier.
Once you have found a cheaper deal and decided to switch, the process is straightforward and typically takes between two and four weeks. You will need to contact your new supplier, either by phone or through their website, and provide them with some basic information, including your address, postcode, contact information, and Meter Point Reference Number (MPRN) or Keypad Premise Number (KPRN). Your new supplier will then take care of the rest, including contacting your current supplier.
During the switching process, you have a cooling-off period of up to 14 days, in case you change your mind. Your supply will not be disrupted at any time, and you will receive a welcome pack with all the information about your new account once the switch is complete.
Switching from a credit meter to prepay or vice versa
If you decide to switch from a credit meter to prepay, or vice versa, there may be additional steps in the switching process. For example, if you are switching from a credit meter to prepay, you may need to pay a security deposit to your new supplier, typically between £125 and £150. This deposit is usually refunded after 12 months or when you leave the supplier, provided your account is in good standing.
Similarly, if you are switching from prepay to a credit meter, you may need to have a credit meter installed at your premises before the switch can be completed. It is worth noting that some suppliers may offer discounted deals or other promotions to attract new customers, so it is beneficial to keep an eye out for these offers when comparing suppliers.
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Changing billing methods
There are several billing methods available for electricity in Northern Ireland. These include:
- Pay As You Go (PAYG): This is where you have a pre-payment meter in your home that you top up online or at a shop.
- Direct Debit: This is when a monthly amount is deducted from your bank account by your provider.
- Quarterly bill: You receive a bill by email or post every 3 months and pay upon receipt, either online or by phone.
Each billing method has its own advantages and disadvantages, and the best one for you will depend on your individual circumstances. For example, if you choose to pay by Direct Debit with Power NI, you will receive a 4% discount off the standard rate. Additionally, customers who register for online billing receive an additional 2% discount, and those choosing monthly Direct Debit and online billing together get a 6% discount (up to £60 per year). On the other hand, if you choose not to pay by Direct Debit with Power NI, you will need to pay a £125-£150 security deposit.
You can change your billing method by switching to a different supplier or changing the way you pay for energy with your current supplier. For example, you could switch from a standard credit meter to prepay, or vice versa. Switching billing methods can result in significant savings, with some people saving £100s per year. However, it's important to note that there may be additional costs when switching, such as security deposits.
If you decide to switch suppliers, the process is straightforward and there will be no break in supply. You can contact the supplier you wish to switch to by calling them or using their website, and they will sort out the technical details and inform your current supplier. You will need your meter point reference number if you have a credit meter or your keypad premise number if you use prepay, which can be found on your latest bill. The switch can take between two and four weeks to complete, and there is usually a cooling-off period of 10 working days during which you can cancel the switch.
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Comparing prices
There are a few ways to compare prices. You can use a price comparison tool, such as the Consumer Council's tool or Power to Switch. These tools will ask for a few details, such as your current supplier, how you pay, your tariff name, and your current energy usage. You can find your current energy usage on your energy bill or statement. The Consumer Council's tool will show the best tariff prices currently available, but it does not consider additional offers such as welcome credit. Power to Switch, on the other hand, allows you to view results by price, cashback offers, payment method, or list tariffs from renewable sources.
Alternatively, you can compare prices by looking at the electricity tariffs available in Northern Ireland. The Consumer Council provides tables that compare all electricity tariffs available in Northern Ireland, and they are correct on the day of comparison. Tariffs will be updated when the new increase or decrease comes into effect. However, these comparisons do not factor in the various supplier incentives such as welcome credit.
It is important to note that there is no one-size-fits-all when it comes to finding the cheapest electricity supplier. The best deal for you will depend on various factors, such as your usage, your current deal, and where you live. Energy prices can change daily and vary depending on the supplier, so it is worth regularly comparing prices to ensure you are getting the best deal.
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Using price comparison tools
There are a few price comparison tools available to help you find the best electricity deal for your needs. These tools can help you save money by switching suppliers, billing methods, or tariffs.
The Consumer Council for Northern Ireland offers a free price comparison tool that provides a full market comparison. As an independent organisation with a legal responsibility to protect consumers' interests, the Consumer Council is a reliable source for finding the best deals.
Another option is Power to Switch, a free and independent service that compares all electricity suppliers in Northern Ireland. This tool allows you to view results based on price, cashback offers, payment methods, or renewable sources. It also provides detailed information about each supplier, including key features of the plan, payment methods, and billing methods.
To get the most accurate comparison, it is recommended to use details of your current energy usage or spend. This information can be found on your energy bill or statement. If you don't have access to this information, you can choose from average consumption ranges.
In addition to these tools, you can also use an online bill calculator tool provided by Power NI. This tool estimates your next bill by considering your usage since your last bill. You can access this calculator by logging into your Energy Online account or registering for one.
When comparing electricity prices, it is important to consider more than just the cost. Other factors to keep in mind include customer products and services, such as smart technology, customer rewards, green energy options, and online account management features. You can also research different suppliers by reading online reviews or speaking to current customers.
Remember, there is no one-size-fits-all solution when it comes to finding the cheapest electricity supplier. It's essential to run an energy comparison based on your unique situation, usage patterns, and preferences.
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Fixed-rate plans
In Northern Ireland, several electricity suppliers offer fixed-rate plans. Budget Energy and Click Energy, for example, previously offered fixed-rate plans, with Click Energy providing a 1-year fixed term discount of 21.21% on their standard unit rate. However, it is worth noting that Click Energy may have since removed their fixed rate and switched to a discounted variable rate.
Another supplier, SSE, previously offered a 31% discount on their base price, though it is unclear whether this is still available. Additionally, Power NI is mentioned as a supplier with competitive rates, though they do not explicitly offer a fixed-rate plan.
When considering a fixed-rate plan, it is important to remember that the best deals are usually available to customers who pay by Direct Debit and manage their accounts online. Additionally, switching suppliers or changing your payment method can often result in significant savings on your electricity bill. Therefore, it is recommended to use an independent comparison tool, such as the one offered by the Consumer Council for Northern Ireland, to find the cheapest deal that meets your needs and lifestyle.
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Frequently asked questions
There isn't one cheapest electricity supplier for everyone in Northern Ireland. The best deal for you will depend on your energy usage, your current deal, and where you live.
You can use a price comparison tool, such as the Consumer Council for Northern Ireland's tool or Power to Switch. You will need to provide a few details, such as your current electricity supplier, how you pay, your tariff name, and your energy usage.
Contact the supplier you wish to switch to—you can usually call them or do it through their website. They will sort out the switch for you, and there will be no break in supply. You will need your meter point reference number if you have a credit meter or your keypad premise number if you use prepay. There will be a cooling-off period of 10 working days (or 14 days with Uswitch) after you've started the switch, during which you can cancel for free.
