The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q2 2023 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 Q2 2023 report include:
- Overall electricity switching activity in Q2 2023 increased from the previous quarter. Domestic customers continue to engage in the market, with almost 27,000 domestic switches completed during Q2 2023, a switching rate of 3.2% (an increase from 2.8% in Q1 2023). Similarly, the Industrial & Commercial sector saw an increase in the electricity switching rate from 0.9% in Q1 2023 to 3.8% in Q2 2023.
- In the gas sector, domestic switching in the Greater Belfast area saw c500 switches completed during Q2 2023 (a decrease from c2,700 in Q1 2023). Industrial & Commercial switching saw an increase in switching activity from 1.1% in Q1 2023 to 1.7% in Q2 2023.
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.
Click here for full QREMM report.