The Annual Retail Energy Market Monitoring (AREMM) Report for 2023 is the latest in a series of Utility Regulator reports that provide a range of information about the retail energy market in Northern Ireland.
The 2023 AREMM report merges the relevant quarterly information for the calendar year from the Quarterly Retail Energy Market Monitoring reports (QREMM) and is therefore the summation of Quarter 1 through to Quarter 4 for 2023.
The AREMM report presents data that we collect as part of the Retail Energy Market Monitoring (REMM) framework. REMM requires network companies and suppliers to submit data on a range of indicators to enhance our transparency around market behaviours and regulatory compliance. We use the information outlined in the report to review the progress and impact of supply competition; build knowledge for regulatory decisions; allow other interested stakeholders to understand more readily the activity within our energy markets; and to help promote the interests of consumers.
Highlights from the 2023 report include:
- Gas Industrial and Commercial (I&C) pricing data was published for the first time and related to semester 2 (July – December) 2023 period. This includes a comparison with Europe, Ireland and UK.
- New items included in this AREMM includes downloadable data tables (click on icon on each page to access data in excel form) and new connections for both gas and electricity and by domestic and I&C breakdown.
- During 2023 Power NI, Budget Energy and Click Energy all increased their market share whereas SSE Airtricity and Electric Ireland’s market share decreased. Power NI increased market share from 56% to 59% during 2023.
- Electricity switching activity remained strong with over 128,000 switches taking place during 2023. Gas switches in Q1 2023 were high (2,800 switches) but reduced to approximately 750 switches in Q2, Q3 and Q4 2023.
- During 2023 electricity complaints increased from 27,000 to 31,000. The three most common electricity supplier complaints made during 2023 related to: bills, payments and accounts (25%), customer service (23%) and prepayment meter issues (16%). Complaints also increased in the gas retail market from 42,700 to 59,800. The three most common gas supplier complaints made during 2023 related to: bills, payments and accounts (70%), prepayment meter issues (9%) and switching (8%).
- The NI domestic electricity unit price continued to rise during 2023, increasing from 27.8p/kWh in Semester 1 (January - June) to 32.9p/kWh in Semester 2 (July - December). This was below the UK price but higher than EU Median.
- The NI domestic gas unit price is the average pence per kWh for medium customers for the Greater Belfast, Ten Towns and West network areas. For semester 1 2023, the NI domestic gas prices ranked among the lowest in the EU. In semester 2 the NI domestic gas price was comparable to the EU median. In both semesters the NI domestic gas price was lower than Ireland.
- 70% of I&C electricity connections fall within the ‘very small’ connection category for which the NI price was at the higher end at 30.4p/kWh across both semester 1 and semester 2 in 2023.
- Gas I&C prices were published for the first time and related to semester 2 July to December 2023. 86% of I&C gas connections fall within the ‘very small’ connection category for which the NI price (9p/kWh) was lower than, Ireland (11.4p/kWh), UK (9.5p/kWh) and EU Median (9.3p/kWh).