The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q4 2024 is the latest in a series of Utility Regulator reports that provides a range of information about the retail energy market in Northern Ireland.
The QREMM 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 Q4 2024 QREMM Report include:
- Overall electricity switching activity in Q4 2024 increased from the previous quarter. Domestic customers continue to engage in the market with over 23,700 domestic switches completed during Q4 2024, a switching rate of 2.8% (an increase from 2.7% in Q3 2024). The industrial and commercial sector saw a decrease in the electricity switching rate, from 1.8% in Q3 2024 to 1.5% in Q4 2024.
- In the gas sector, domestic switching in the Greater Belfast area saw c391 switches completed during Q4 2024 (an increase from c261 in Q3 2024). The industrial and commercial sector switching saw an increase in switching activity from 1.1% in Q3 2024 to 1.6% in Q4 2024.
- In terms of prices, the Q4 report covers the same period as the Q3 report (January to June 2024). As a result, there are no price changes to report, and we have reinstated the charts from the previous report. The Q1 2025 QREMM Report will cover the pricing information for July to December 2024.
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.