Bright Energy….launch in Ireland

A new energy supplier, Bright Energy, has entered the market in Ireland with the aim of bringing green, affordable energy with one simple tariff.

Bright Energy state that they are not just another supplier but on a mission ‘to change how the market works by putting the power in consumers’ hands’

Who is Bright Energy?

Bright is a new electricity supplier in Ireland with plans to supply electricity and gas both North and South. Although a new energy supplier the people behind Bright have many years’ experience working across the energy market in Ireland.

Bright Energy is a partnership between two local family businesses Evermore Energy and The Maxol Group

Evermore has already built an £83m biomass-fuelled power station in Derry. It is now working toward an even larger gas-fired plant at Belfast Harbour. The Maxol Group is Ireland’s largest forecourt operator providing a range of oil and petroleum products to all sectors of the Irish Market.

What tariff will Bright offer?

Bright Energy will offer one variable rate tariff…available to everyone, both new and existing customers

What is the Bright idea?

Bright say that their aim is to offer transparent pricing for all customers, so they have one simple variable rate tariff for everyone. Because there is one tariff customers will always be on the best rate offered by the company.

Ciaran Devine, from Bright, says customers will ‘no longer spend time and money managing complex energy tariffs and bills’. He said unlike other suppliers, there are no tie ins or exit fees.

Technology is also at the forefront of the Bright approach…they state that their technology driven, and simplified approach will change how people manage and pay for their gas and electricity.

What is a Variable Rate Tariff?

Variable rate tariffs do just what their name suggests: they vary. This means that your electricity or gas price will increase and decrease in line with wholesale costs and other charges. So, if these costs and charges increase they will be passed on as higher tariff charges…similarly if they fall you will benefit from lower tariffs.

Variable rate tariffs are different from the other types of tariffs which are common amongst suppliers – fixed price and discount tariffs.

With a fixed price tariff, the rate you pay will be fixed for a certain period of time. Many suppliers also offer discount tariffs especially for new customers – this is usually a set percentage discount off their standard rate. And although the tariff rate may change the discount rate will remain the same for the contract period, usually 12 months.

Whether you choose a fixed price tariff, discount or variable tariff depends on what you like in terms of a deal – there are lots of offers available so using Power to Switch means you see all offers from all suppliers…so it makes picking the deal for you easy!

What we think at Power to Switch

A new supplier brings increased choice and competition to the market which is a good thing for consumers. And with a market leading rate Bright are sure to generate interest.

The arrival of Bright to Ireland brings the number of electricity suppliers to 13, and when they add gas will further increase choice for Irish consumers.

With one variable rate tariff the pricing structure is simple and straightforward. Offering the same rate to all customers does mean that there is some ‘equality’ across new and existing customers. But customers often expect promotions, discounts or other offers to attract or retain their business…however a simple, straightforward, competitive rate may work.

Price is always key….but customer service, account management, green credentials and innovation are all important to customers. Bright have said they have focused on software and technology development to ensure customers have more control over their energy use and costs. It will be interesting to see if the ‘mix’ between a simple tariff rate and sophisticated software helps build their market share over the coming months.

Comparing Energy Prices

Check out what the new Bright tariff may mean for your bills with Power to Switch. We compare deals and offers from all energy suppliers in Ireland to find you the best deal. Switching is quick, hassle-free and means you keep more money in your pocket.

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