The Annual Retail Energy Market Monitoring (AREMM) Report for 2024 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 2024 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 2024.
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. 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 2024 report include:
- New items in this AREMM, allowed within the REMM Framework, is additional gas and electricity switching data associated with “sticky customers” i.e. those who haven’t switched. Also new to the gas section is analysis of connections for medium and large I&C consumers and analysis of consumption for domestic and small I&C customers.
- During 2024 Electric Ireland announced it was leaving the domestic electricity market and this is evidenced in the AREMM with reduction of c27,400 customers. Power NI’s market share has remained at a similar level with 59.9% at the end of 2024 compared with 59.3% at the end of 2023. Share Energy entered the electricity market in September 2024.
- Fall in the number of switches during 2024 in both gas and electricity. A 55% fall in gas switches and a 23% fall in electricity switches.
- The NI domestic electricity unit price fell slightly during 2024, decreasing from 31.9p/kWh in Semester 1 (January - June) to 30.1p/kWh in Semester 2 (July - December).
- 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. During 2024 the NI domestic gas unit price fell from 11.0p/kWh in semester 1 to 9.9p/kWh in semester 2, which brought the NI gas price below Ireland and the EU median.
- 71% of I&C electricity connections fall within the ‘very small’ connection category for which the NI price was below Ireland and UK throughout 2024.
- 86% of I&C gas connections fall within the ‘very small’ connection category for which, during January to June 2024 (semester 1) the NI price (8p/kWh) was lower than, Ireland (9.4p/kWh), UK (9.0p/kWh) and EU Median (8.2p/kWh). During July to December (semester 2) the NI price (8.7p/kWh) was lower than UK (9.3p/kWh), similar to Ireland (8.6p/kWh) and higher than EU median (7.9p/kWh).
- During 2024 electricity complaints remained at a similar level of c31,000. The three most common electricity supplier complaints made during 2024 related to: bills, payments and accounts (30%), customer service (21%) and selling & marketing-other (14%). Complaints continued to increase in the gas retail market from 59,800 to 63,900. The three most common gas supplier complaints made during 2024 related to: bills, payments and accounts (69%), prepayment meter issues (13%) and customer service (9%).
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.