Good news for householders: More competition expected as new supplier to offer unlimited electricity for set monthly fee
A North American energy giant is hoping to stoke up the electricity market here by offering families a deal that will see them get unlimited electricity use in return for a set fee every month.
Just Energy, which is jointly headquartered in Canada and the US, has become the 10th energy supplier in the household energy market.
It is hoping to mark itself out by being the first to offer a tariff that allows families to use unlimited electricity for a set price.
The offer allows customers to pay a flat tariff every month and then they will be able to use any amount of electricity.
Householders will choose from one of a number of different electricity usage bands depending on their normal use and pay a set fee.
Just Energy, which is quoted on the New York Stock Exchange, will market this unlimited electricity offer at consumers who are on a tight budget and need to know exactly how much they will have to pay for power each month.
The new provider is expected to launch its electricity offering this month, and later on it will offer a gas supply service.
The company is also to offer electricity with the price fixed for a 12 or 24-month period. This will protect householders from price rises.
Offering a fixed contract is in contrast to discounts offered by existing suppliers for a set period to get householders to switch to them.
Currently market players offer discounts off their standard electricity tariff, but the overall costs can go up if the standard tariff rises.
Just Energy's Ireland manager Mike Cody said his company aims to bring innovation to the market.
"We have some serious growth plans," he said.
There are fears that electricity prices are set to rise this year.