The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q4 2022 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; 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 Q4 2022 report include:
- Overall electricity switching activity in Q4 2022 increased from the previous quarter. Domestic customers continue to engage in the market with over c39,000 domestic switches completed during Q4 2022 (increase from c26,000 in the previous quarter) and a switching rate of 4.7%. In the industrial and commercial sector, the electricity switching rate increased marginally from 1.1% in Q3 2022 to 1.2% in Q4 2022.
- In the gas sector, domestic switching in the Greater Belfast area saw c3,300 switches completed during the Q4 2022 (an increase from c400 in Q3 2022). Industrial and commercial switching also saw an increase in switching activity from 0.5% in Q3 2022 to 0.8% in Q4 2022.
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.