The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q1 2025 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 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 Q1 2025 report include:
- Overall electricity switching activity in Q1 2025 decreased from the previous quarter. Domestic customers continue to engage in the market with over 21,700 domestic switches completed during Q1 2025, a switching rate of 2.6% (a decrease from 2.8% in Q4 2024). The Industrial and Commercial (I&C) sector saw no change in the electricity switching, with a rate of 1.5% in Q1 2025 and Q4 2024.
- In the gas sector, domestic switching in the Greater Belfast area saw c442 switches completed during Q1 2025 (an increase from c391 in Q4 2024). I&C switching in NI saw a decrease in switching activity from 1.6% in Q4 2024 to 0.6% in Q1 2025.
- For semester 2 (July to December) 2024:
- The domestic electricity prices for NI (30.0 p/kWh) were below Ireland (31.3 p/kWh) but above the UK (28.7 p/kWh) and the EU median (22.9 p/kWh).
- The NI I&C electricity price for the Very Small connections (which represent c71% of I&C connections) was 28.5 p/kWh, which was lower than the UK (31.5 p/kWh) and Ireland (31.4 p/kWh) but higher than the EU median (22.7 p/kWh).
For Large and Very Large I&C customers (c0.03% of connections) NI prices (16.9 p/kWh) slightly below Ireland (17.4 p/kWh) and significantly below the UK (24.9 p/kWh) but again higher than the EU median (10.6 p/kWh).
In the gas sector, for semester 2 (July – December):
- Domestic gas prices for NI (9.9 p/kWh) were slightly below Ireland (11.3 p/kWh) and the EU (10.7 p/kWh). This was also higher than the UK (6.8 p/kWh).
- The NI I&C gas price for the Very Small connections was 8.7 p/kWh, which was above the EU median (7.9 p/kWh), but below Ireland (8.6 p/kWh) and the UK (9.3 p/kWh).
- For Medium and Large I&C customers NI gas prices (5.8 p/kWh) were higher than the EU median (3.9 p/kWh) and Ireland (3.2 p/kWh) and below the UK (4.5 p/kWh).
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