Airtricity supplies more than 200,000 customers with cheaper electricity in the Republic of Ireland and as Ireland’s most reputable energy company – according to the Irish RepTrak 2010 (Ireland’s company reputation study) – the energy provider has been making headline news recently…
Last week Airtricity, which already supplies electricity to business customers, announced that is was planning to enter the domestic gas market, creating up to 200 jobs, with approximately half of those at its headquarters in Sandyford, Co Dublin.
This was followed by Airtricity revealing its plan to enter the Domestic electricity market in Northern Ireland in a move that is set to shake up competition for the first time by becoming the first company to compete with NIE Energy in the domestic electricity market.
Industry sources now suggest that Northern Ireland’s electricity prices could tumble as NIE’s dominance comes under threat. Economist John Simpson has speculated that Airtricity’s decision to move into the domestic sector could be “a step in the right direction” in creating competition for the domestic electricity market.
In a report for the Belfast Telegraph, Mr. Simpson said:
“It is an overdue development that was provided for in the opening up of the single electricity market (in 2007). We have been waiting for someone to come in for some time, because up until now the reshaped NIE has been the only supplier”
But, the industry will now have to wait and see whether just one new entrant is enough to bring electricity tariffs down, he continued to say. In the meantime, Airtricity claims it will be able to undercut prices by approximately 14% – reducing average household bills from around £500 to £430.
Source: Belfast Telegraph