Latest Quarterly Retail Energy Market Monitoring report on NI’s retail energy market published

The Quarterly Retail Energy Market Monitoring (QREMM) Report for Q4 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; 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 2023 report include: 

  • Overall electricity switching activity continued in Q4 2023 with an increase from the previous quarter. Domestic customers continue to engage in the market with over 36,000 domestic switches completed during Q4 2023, a switching rate of 4.3% (a slight increase from 4.1% in Q3 2023). The industrial and commercial sector saw an increase in the electricity switching rate from 2.1% in Q3 2023 to 2.6% in Q4 2023.

  • In the gas sector, domestic switching in the Greater Belfast area saw 567 switches completed during Q4 2023, a slight increase from 494 in Q3 2023. The industrial and commercial sector market saw a decrease in switching activity from 1.7% in Q3 2023 to 1.1% in Q4 2023. 

Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.