Sept 2010: ESB Price Controls to be abolished

The electricity market has been open to competition since 2005. Up to now, the Commission for Energy Regulation (CER) has controlled the electricity prices charged by ‘ESB Customer Supply’ whereas other suppliers were free to set their own pricing. This in effect set ESB’s price as the benchmark for electricity costs and other suppliers (such as Energia, Airtricity etc) frequently set their charges as ‘x% below ESB rates’.

From the 1st October 2010, as part of the deregulation of the electricity market, ESB will be able to set its own prices. This means there will no longer be a regulated tariff to act as a pricing benchmark.

It is expected that deregulation will stimulate greater competition and deliver more benefits to the consumer through increased choice and enhanced service. Consumers can also expect to see more innovative and diverse tariff/ pricing mechanisms emerge as suppliers compete for market share.

This means it has never been more important for your business to ‘shop around’ to secure the best electricity prices for your business.