The chairperson of the Commission for Regulation of Utilities (CRU), Jim Gannon, is advising the public to switch to smart tariffs for utilities in the wake of an increase in electricity charges.
Mr Gannon told RTÉ radio’s Morning Ireland that the increase in standing charges, which will mean an average rise of €100 to domestic bills, is to cover the cost of maintaining the network that transmits power to homes and businesses.
“We estimate that for an average consumer there will be an increase in their bill of between six to eight percent, or in the order of €102. But critically, while there will be an increase in the annual bill approximately €102, there is still significant value in the marketplace.
"And this is a really key message for customers to have today, where the average standard plan for a typical household will see them pay approximately €1,580 right now.
"But if they switch to smart tariffs they can see that reduce, according to the average plans right now in the markets, to approximately €1,150. We would suggest, and we would encourage people to go to the accredited price comparison websites.”
Mr Gannon explained that the CRU, on an annual basis, reviews the performance of the energy providers and also reviews their forthcoming investment requirements for the government for the next year.
“We satisfy ourselves that their level of performance and investment is up to scratch or not. And on that basis, we approved the charges for the forthcoming year.”
Operational and transmission requirements differed between the energy providers, he said.
Mr Gannon said the CRU was “acutely aware” of the challenges faced by consumers, especially over the last few years.
“Tomorrow we'll be publishing the measures that we will be bringing in place and the updated protection measures for consumers over the forthcoming winter period.
"How to find details of disconnection, moratorium for the coming winter. Also debt repayment for those on pay as you go meters, discounted tariffs for those in hardship meters, and timelines for debt repayment.
“I think critically also, we will be reminding people of the engaged code the suppliers have in place at the moment where for an actively engaging consumer, they commit to not disconnecting the actively engaged consumer.
"But again, a fundamental point right now is that there is significant value in the market and by accessing the accredited price comparison websites, consumers can see significant savings.”
