Which Irish Energy Supplier Offers Fixed Rate Electricity Plans?

By Cormac Breen

Content Manager

Cormac is Selectra.ie's energy expert along with being the chief content and editorial manager for the website. His aim is to help find the best deal for you and your home energy needs so that you save money on your annual bills. His knowledge and experience of the Irish energy market allows him to offer the best advice and insight into current prices, emerging trends and overall energy saving tips.

Both SSE Airtricity and Flogas offer fixed rate electricity plans in addition to their variable rate plans. Currently, SSE Airtricity offers the cheapest fixed rate electricity plan for €1,301 on their 24hr, standard meter urban plan including VAT. A fixed rate electricity plan locks in the price you pay per unit of electricity (kWh) for the entire duration of your contract regardless of any price increase or decrease introduced by your supplier. If you are looking to switch electricity provider, you can call 📞(01) 913 1771.

Which Irish Suppliers Offer Fixed Rate Electricity Plans?

Fixed rate electricity plans are currently only available from two electricity suppliers:

1. SSE Airtricity
2. Flogas

Each supplier offers fixed electricity rates across all of their plans including

• Standard 24hr
• Nightsaver
• Time-of-use plans (smart meter plans)

SSE Airtricity Fixed Rate Electricity Plans

SSE Airtricity actively promotes fixed-rate plans under a 1-Year Price Guarantee for new customers.

They offer different fixed-rate options depending on your meter type:

*Rates and EABs are for illustrative purposes and are subject to change. They are typically based on national average consumption (4,200 kWh) for a specific urban meter type, and include VAT and levies.

Flogas Fixed Rate Electricity Plans

Flogas also actively promotes fixed-rate plans under a 1-Year Price Guarantee for new customers.

They offer different fixed-rate options depending on your meter type:

*Rates and EABs are for illustrative purposes and are subject to change. They are typically based on national average consumption (4,200 kWh) for a specific urban meter type, and include VAT and levies.

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What is a Fixed Rate Electricity Tariff?

A fixed rate electricity plan locks in the price you pay per unit of electricity (kWh) for the entire duration of your contract, typically 12 months.

This fixed price component covers only the unit rate; your daily standing charge remains fixed for the duration of the contract too, but government taxes and levies, such as the Public Service Obligation (PSO) levy, are subject to change.

The core benefit is that regardless of what happens to the wholesale cost of electricity during your contract term, your unit price will not increase.

How is it Different to a Variable Rate Plan?

A variable rate electricity plan means that the unit price you pay for electricity can rise or fall at the discretion of your supplier. These tariffs directly reflect changes in the wholesale energy market.

If the supplier's cost for buying electricity goes up, your rate will likely increase; if their cost goes down, your rate may fall.

Variable plans generally offer more flexibility, as they usually do not have a fixed contract term or require an early exit fee, allowing you to switch without penalty whenever you find a better deal.

How Do Fixed Rate Plans Compare to a Supplier’s Standard Variable Rate?

In almost all cases, a supplier's fixed rate plan (especially those offered to new customers with a discount) is substantially cheaper than their own standard variable rate (SVR).

The SVR is essentially the supplier's most expensive tariff, which customers roll onto automatically when their initial fixed-term or discounted contract ends.

• New Customer Fixed Rate: These tariffs are heavily discounted to be competitive with the wider market and secure your custom.
• Standard Variable Rate (SVR): This rate is the supplier’s default, highest-priced tariff. It is an uncompetitive rate designed to be paid by customers who have not switched or negotiated a new deal recently.

The difference between the two can amount to hundreds of euros over the course of a year, underscoring the importance of regularly switching or re-signing a discounted plan.

Below you can compare each providers fixed rate plan to their cheapest variable rate plan:

*Rates and EABs are for illustrative purposes and are subject to change. They are typically based on national average consumption (4,200 kWh) for a 24hr standard, urban plan and include VAT and levies.

Is a Fixed Rate Plan Cheaper Than the Cheapest Variable Rate Plan?

Determining whether the current cheapest fixed rate is a better value than the current cheapest variable rate requires a real-time market comparison, as the answer can change daily.

In an environment where wholesale energy prices are high or expected to rise, a fixed rate plan is generally the better choice. It secures your rate below the current or projected market peak.

However, if wholesale prices are falling or expected to fall significantly, the cheapest variable rate plan might ultimately offer more value. This is because:

1. Discounted Variable Plans: The cheapest overall tariff on the market is often a steeply discounted variable rate plan designed to attract new customers.
2. Price Decreases: If you are on a variable rate, you will immediately benefit from any market-driven price decreases announced by your supplier. If you are on a fixed rate, you will not.

A comprehensive comparison of the market is the best way to determine which type of plan is best suited to you are your needs.

What are the Pros and Cons of Fixed Rate Electricity?

Before committing to a fixed rate plan, it is essential to weigh the trade-offs between price security and flexibility.

Advantages of Fixed Rate Electricity

• Price Certainty: The primary benefit is protection from sudden, significant price increases. This allows for stable and predictable household budgeting.
• Avoidance of Market Volatility: In times of geopolitical or economic instability that affects energy markets, a fixed rate acts as a buffer against spiralling costs.
• Competitive Introductory Rates: Fixed rate plans are often coupled with discounts and/or welcome credits, making them some of the cheapest deals on the market for the first 12 months.

Disadvantages of Fixed Rate Electricity

• Missed Savings: If wholesale energy prices fall, your fixed rate will not decrease, meaning you could end up paying more than customers on a cheaper, variable rate plan.
• Early Exit Fees: Most fixed rate contracts impose a penalty (typically €50 per fuel) if you switch supplier before the end of the contract term.
• Automatic Roll-Over: At the end of the fixed term, your supplier will automatically roll you onto their much more expensive Standard Variable Rate (SVR) unless you actively switch or negotiate a new deal.

How Do I Switch to a Fixed Rate Electricity Plan?

Switching to a new fixed rate plan is a simple, three-step process that can be completed entirely online.

By Cormac Breen

Content Manager

Cormac is Selectra.ie's energy expert along with being the chief content and editorial manager for the website. His aim is to help find the best deal for you and your home energy needs so that you save money on your annual bills. His knowledge and experience of the Irish energy market allows him to offer the best advice and insight into current prices, emerging trends and overall energy saving tips.