New report suggests more than half of consumers are paying too much for gas and electricity
Over 50% of households are overpaying for gas and electricity.
The Commission for Regulation of Utilities confirmed today that consumers in the Irish energy market are not shopping around enough.
The report shows 58% of electricity customers and 53% of gas consumers have never switched supplier and that better deals exist.
Mark Whelan from comparison site Bonkers.ie said there is plenty of opportunity for value in the Irish market.
He said: "The Irish electricity and gas markets were fully price deregulated in 2014, which raised hopes of increased competition and lower prices for households.
"While there has been a healthy increase in the number of suppliers in the market, today’s paper from the CRU suggests that most consumers are missing out on the benefits of competition by not switching suppliers.
"Most gas and electricity suppliers offer substantial discounts and cashback to new customers and there is an average of over €300 to be saved by switching suppliers at the moment."
"Householders who have never switched suppliers should take advantages of the savings available to them as we head into the expensive Christmas period".
