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Energy

How are gas and electricity tariffs set
Energy rates can vary due to a wide range of different factors. These can include global shortages, logistics issues and even weather conditions, such as an extremely cold winter. Gas and electric suppliers often buy energy months and even years ahead of time to guard against price fluctuations. In addition to this, government levies such as carbon tax and the PSO levy place an extra cost on the price consumers pay for their gas and electricity. This adds a further level of complexity to gas and electricity tariffs. Faced with such a volatile market, the simplest way for consumers to ensure they are getting the best gas and electric prices is to regularly compare gas and electricity quotes.

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Steps to take if your energy tariffs are ending

At present it is not standard procedure for gas and electricity suppliers in Ireland to issue a reminder to customers to inform them when their energy tariffs will come to an end. This can be an issue, as customers can be automatically ‘rolled-over’ onto a new more expensive tariffs. The disadvantage here is that a standard plan will be accompanied by higher prices and an online or fixed option may not be competitive and will often entail a rather hefty fee should you decide upon switching gas and electricity providers early. Many homeowners may be confused at what actions to take.


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