The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q1 2022 is the latest of a series of Utility Regulator reports that provide a range of information about the retail energy market in Northern Ireland. This report was previously known as the Quarterly Transparency Report (QTR).
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; comply with EU Third Package mandatory requirements on market monitoring; 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 Q1 2022 report include:
- The semester 2 (July - December) 2021 electricity pricing data is sourced from Eurostat and individual supplier’s submissions under the REMM framework. The pricing data for the period illustrates the following:
- NI domestic electricity prices (19.3 p/kWh) continued to rank below the EU median (20.1 p/kWh), UK (20.1 p/kWh) and were lower than the Republic of Ireland (25.3 p/kWh).
- The NI I&C electricity price for the Very Small connections (which represent c71% of I&C connections) was 23.0 p/kWh, which was higher than the EU median (18.0 p/kWh), higher than the UK (18.5 p/kWh) and just above the Republic of Ireland (22.5 p/kWh).
- For Large and Very Large I&C customers (c0.02% of connections) NI prices (16.1p/kWh) were higher than the EU median (10.2 p/kWh), RoI (13.4p/kWh) and the UK (15.0p/kWh).
- The semester 2 (July - December) 2021 domestic gas prices in NI were among the lowest in Europe at 4.6 p/kWh. This was less than RoI (6.7 p/kWh) and EU median (6.7 p/kWh) and marginally higher than UK (4.5 p/kWh).
- Overall electricity switching activity in Q1 2022 decreased from the previous quarter. Domestic customers continue to engage in the market with over 24,300 domestic switches completed during Q1 2022 and a switching rate of 2.9% (a decrease from 4.8% in the previous quarter). In the Industrial and Commercial (I&C) sector, electricity switching also saw a decrease during the period with a switching rate of 0.8% (down from 4.6% in the previous quarter).
- In the gas sector, I&C switching activity saw a decrease in the switching rate, down from 0.8% in Q4 2021 to 0.5% in Q1 2022. Domestic switching in the Greater Belfast area saw an increase with over 1,300 switches completed in Q1 2022, up from 702 switches in Q4 2021.
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.