Flogas launches new fixed-price energy deals

It hasn’t been a great few months or even years for energy customers as we all know. 

In both 2021 and 2022 all energy suppliers in Ireland announced major price increases which has left gas and electricity prices at record highs. 

And although wholesale energy prices have eased slightly in recent weeks, the outlook is still very uncertain. Indeed in December the wholesale price of electricity shot up again having fallen for a few months in a row. 

Given all the uncertainty, many households have been asking for fixed energy deals where they’re guaranteed a certain price for their gas and electricity for a year or so. 

However, until today's announcement by Flogas, no energy supplier was offering these deals - the last fixed deal on offer was from Budget Energy and Iberdrola back in 2020, who have now both exited the market.

Bit that’s now changed! Let's take a look at what's on offer...

What’s on offer?

Flogas is now offering a fixed price for gas, electricity and dual fuel for both new and existing customers.

The price is fixed for one year. So no matter what happens on wholesale energy markets over the coming months, and things are likely to be highly volatile, the cost of your energy bills won’t go up during this time.

On top of this, Flogas is offering €300 welcome credit to everyone signing up to a dual fuel plan. And €150 welcome credit to those who sign up to a gas or electricity plan only. 

The unit rates are also competitive. 

Usually fixed energy deals are more expensive than variable deals as you’re paying for the certainty of locking in a price for an entire year. However most households who use an average amount of gas and electricity will find these deals among the cheapest in the market right now. 

So it seems like a real win-win.

Comparison of deals  

These are the best deals available for switchers today. Note that the figures include any cashback incentives.

Figures are estimates and based on a supplier's standard 24-hour urban rate and a household using an average amount of gas and electricity as defined by the CRU. Cheaper bills may be available for those with Smart or Night Saver meters. Figures include VAT, standing charge and any Government levies. 

Any downsides?

The downside of a fixed energy deal is that the price of gas and electricity might fall during your contract and that you'll be locked into paying the higher price for the remainder of the year.

No one can say for certain how energy prices will pan out over the next year or so. So this is a risk you’ll have to weigh up.

You can of course break your contract, but you’ll be hit with a €50 per fuel early-exit fee and may also have to pay back any welcome credit you got. 

And of course, consumers are just getting a fixed unit price for their gas and electricity. It’s important to remember that your bill will still change based on how much energy you actually use.

Anything else?

Customers who sign up must agree to online billing and to pay by Direct Debit. But that’s pretty standard these days.  

I'm an existing customer of Flogas. Can I sign up?

You can. 

If you’re already a customer of Flogas on a variable-rate deal you can sign up to one of its new fixed-price deals.

However if you recently switched to Flogas and are still mid contract, you will have to pay an early exit fee.

Compare all deals across all suppliers.

It's important to compare all deals across all suppliers before making the switch to see which is best value for you. 

The good news is that it’s quick and easy to compares deals and switch on bonkers.ie. Use our energy comparison tool to compare the best deals across all energy suppliers nationwide in the space of a few minutes.

If you’re seeking advice when it comes to switching, have a look at our guide on 7 things to consider when switching energy supplier or have a read of some of the most frequently asked questions about the energy switching process.

If you're still in contract and don’t want to pay an early exit fee to switch supplier, consider adjusting your habits around the home to reduce your energy consumption instead. 

Here are 16 ways to use less electricity and save money and 10 ways that you can heat your home for less this winter.