Friday 28 July 2017

Cut-price electricity offer from new outfit

BEenergy has the lowest standard unit rates on the market in the Republic. Stock photo: PA
BEenergy has the lowest standard unit rates on the market in the Republic. Stock photo: PA
Charlie Weston

Charlie Weston

A new energy company has entered the market, with some of the cheapest electricity tariffs.

BEenergy, which is part of Northern Irish company Budget Energy, has the lowest standard unit rates on the market in the Republic.

The Derry-based company was co-founded by 'Dragons' Den' star Eleanor McEvoy.

Ms McEvoy is a serial entrepreneur and chief executive of Budget Energy, which has 65,000 customers in the North, where it has been operating for three years.

The offering in the Republic will mean it has the lowest standing charge, and it is offering one month's free electricity to customers, along with having the lowest standard unit tariff.

It is the first new entrant to the market since Panda Power in 2015.

Eleanor McEvoy. Photo: Kyran O'Brien
Eleanor McEvoy. Photo: Kyran O'Brien

It brings to eight the numbers of suppliers to consumers in the market.

BEenergy will not offer a discounted plan.

But is has the lowest standard unit rates and standing charge, according to Eoin Clarke of price comparison site Switcher.ie.

He said consumers who sign up will save up to €72 a year on the one month's free electricity deal being offered by the new entrant.

The fact that there is no discounted offer means that switchers are unlikely to make the biggest possible savings by moving to the new supplier.

Energia will still offer the cheapest discount deal with its Clever Electricity offer.

This works out at €909 a year for a typical household, Mr Clarke said.

The BEenergy deal works out at €1,127 a year.

Ms McEvoy said a key part of the BEenergy offering will be a mobile phone app that will allow people to input an up-to-date meter reading rather than getting estimated readings.

She said the energy supplier had won three awards from the 'Which!' consumer publication.

Irish Independent

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