Electric Ireland offering €100 cashback to new electricity customers

We love a good deal here at bonkers.ie. And the latest offer from Electric Ireland has definitely caught our attention. 

If you’re looking to save some money on your energy bills, and let's face it, who isn't these days, then now is the perfect time to make the switch.

Here's a look at what's on offer... 

Electric Ireland cashback offer

Electric Ireland, the country’s biggest energy supplier, is offering €100 to new customers for a limited time.

Switch your electricity to Electric Ireland today and the money will be credited to your account on either your first or second bill.  

And if that’s not enough, Electric Ireland is also offering a 28% discount on its electricity for the first year, which equates to a unit rate of just under 26 cent per kWh including VAT.   

At the moment households on standard rates will be paying around 36 or 37 cent for their electricity. This means you could save another €500 a year on top of the €100 cashback.

The contract is for one year and it’s a variable tariff. After the year is up, you’ll roll over onto a 5% discount. Or you can switch again to a new deal with a different supplier of course.   

And if those savings aren’t enough, if you shop in SuperValu you can easily shave another €30 off your bills each year.

Simply join Electric Ireland Rewards (all you will need is your account number, which you'll find at the top of your bill). Then link your SuperValu Real Rewards card and download the Real Rewards app.

Then shop in SuperValu, scan your Real Rewards card, and you’ll receive a free €5 voucher off your Electric Ireland bill every two months. Your €5 voucher will be issued to your Real Rewards app along with a 9-digit code. Enter the 9-digit code on the Electric Ireland Rewards site, and your discount will then be applied to your bills. 

It's only a small amount but "every little helps" as they say! 

*includes VAT which is currently 9%

You can sign up to this deal in minutes right now on bonkers.ie.

What happens if energy prices fall after I've switched?

Thankfully it looks like the worst of the energy crisis is over. Though prices still remain high.

Since last September, Electric Ireland has cut its energy prices twice, and given where wholesale prices currently are, it’s likely it will drop its prices again over the coming weeks.  

As this is a variable-rate offer, if Electric Ireland does reduce its prices later this year then you’ll benefit from this reduction as well. Your 28% discount will continue and will be applied to Electric Ireland's new, lower standard rate. 

So you won’t miss out on anything by switching.  

The good, the bad and the uncertain about energy prices

Energy prices are gradually easing. However recent developments mean it's not all good news for consumers. Upcoming hikes to the PSO levy, network fees and the carbon tax will reverse many of the savings, as will a potential hike in the rate of VAT.

We take a look at some of the good, bad, and uncertain news for energy customers over the coming months. 

Compare, switch and save on bonkers.ie

Electric Ireland isn’t the only supplier offering great deals to new customers right now. For example Flogas is offering a 24% electricity discount plus €200 cashback. 

You might also want to go with a fixed rate or you might want to bundle your electricity with gas and go with a dual fuel deal instead.

You can do a full comparison of all the energy deals that are available in just a few minutes using our energy comparison service. 

Then to switch, all you need is your MPRN for electricity, your GPRN for gas, and a recent meter reading. You'll also need to supply some personal details and payment details for billing. 

For more information on the comparison and switching process, make sure you take a look at our guide on how to get cheaper energy bills.