Business

Electric Ireland invests £5m in bid to expand market share

Electric Ireland currently has 1,750 domestic customers in the north

ELECTRIC Ireland is to be spend £5 million as it plans to increase its share of the domestic electricity supply market in the north.

The Dublin-headquartered firm, part of the ESB Group, is creating 45 jobs at a new dedicated customer service centre in Belfast - 30 of which are already in place.

It has been supplying households in Northern Ireland since 2011 - and to businesses since 2001 - but has not made significant inroads into the domestic sector.

The company is offering new customers a £50 cashback for switching and a further £25 bonus for those paying online bills by direct debit (if they stay with the firm).

Its standard tariff is currently 15.56p per unit.

Electric Ireland, which has around 1,750 domestic customers in the north, said its "full scale entry" would "provide greater choice for residential electricity consumers".

The company's executive director said: “We are not seeking to lure people with the appearance of upfront discounts that are unclear and fall away. We will provide enduring competitive rates and very clear cash bonus rewards for switching to us and for staying with us (£75).

“Customers who pay by direct debit can avail of this great pricing without entering into a contract. We believe people will choose to stay with us because they will like our prices and our service – not because they have to.

“Our ambition is to provide competitive products and simple ways to switch to Electric Ireland through our dedicated ‘phone and online service."

The are currently five electricity suppliers for households to choose from in Northern Ireland including Power NI, SSE Airtricity, Budget Energy and Click Energy which launched last week.

A sixth company, Open Electric, was due to launch in August. It is understood it will announce its tariffs by the end of this month.

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