In the first six months of 2024, electricity prices in Ireland saw a welcome decline after a period of high energy costs. This drop in prices is especially significant for electric vehicle (EV) owners, who depend on affordable electricity to charge their vehicles and keep running costs low. As the shift to greener transportation continues, the reduced electricity rates are providing Irish EV owners with much-needed financial relief.
With cheaper electricity, the cost-per-kilometer for EV drivers has substantially decreased, making electric cars an even more attractive option compared to traditional petrol and diesel vehicles. For example, home charging, already more economical than fuel-based alternatives, has become even more budget-friendly. EV owners who take advantage of night-time off-peak charging rates can now maximise savings, cutting down significantly on their monthly expenses.
As of the first half of 2024, several electricity providers in Ireland have announced reductions in their electricity rates, reflecting the general trend of lower energy costs. Below are some examples of price changes from major providers:
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Electric Ireland: Electric Ireland, one of the country’s largest providers, reduced its electricity rates by around 10% for residential customers in early 2024. For an average household using 4,200 kWh per year, this cut translates to savings of approximately €180 annually.
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Bord Gáis Energy: Bord Gáis Energy implemented a 12% reduction in their electricity tariffs, leading to average savings of about €200 per year for households. This decrease has made their night-time charging rates for EV owners especially attractive.
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SSE Airtricity: SSE Airtricity introduced a 9% price cut on their electricity rates, which has lowered the cost of home charging for EV drivers. For a typical household, this equates to savings of around €160 annually.
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Energia: Energia followed suit with a 10% drop in electricity prices, benefiting both regular households and EV owners who charge at home. The cost savings for an average household are estimated to be about €170 per year.
Deciding on who to switch to for your EV requirements depends on multiple factors, how much of a charge does your EV need? Do you charge at home or at work? Do you charge during the day or at night? For example if you charge overnight you will see great benefits with day and night rates. If you have a hybrid 3.6KW maximum capacity you may see as great benefits with day and night rates.
What ever you choose check out www.evcableco.ie for all Type 1, Type 2, Household/Granny Cables, and 3 Phase EV charging cables.
