Panda Power has burst onto the gas and dual fuel market, offering some of the best prices available today.
That is according to Eoin Clarke, managing director of independent price comparison and switching service, Switcher.ie
“Following a winter of energy price hikes, it’s great to see some more competition emerging, as more choice can only mean better value for consumers," Mr Clarke said. "It’s possible that other suppliers will respond by bringing in big discounts to compete with the new offer.
“In the coming weeks, it’s likely that people are going to see unusually high bills for this time of year as a result of the 'Beast from the East' and Storm Emma. This means that now is a great time for energy customers to shop around for a new plan, so they can claw back some savings on their bills for the rest of the year.
“The average dual fuel customer can currently save up to €340 by switching from standard plans to the cheapest deals on the market, and larger households could stand to save even more.”
Panda Power launched in the Irish electricity market in 2015 and is a green electricity provider.
The new offering makes Panda Power the only utilities company in Ireland to offer waste, electricity and gas.
There are nine electricity suppliers on the Irish market and seven gas suppliers. In total, there are six suppliers that offer dual fuel deals: Bord Gáis Energy, Electric Ireland, Energia, Just Energy, PrePayPower, and now Panda Power.
Panda Power’s new dual fuel plan will cost the average dual fuel customer €1,445.47 per year, a saving of €341.81 when compared to typical standard tariffs. Before taking cashback into account, it is the cheapest dual fuel deal on the market.
When cashback is taken into account, the best dual fuel deal on the market is Energia’s Cheapest Dual Fuel 29/28 tariff. This comes in at €1,404.87 for the average customer when you take into account the €50 cashback.