Latest Quarterly Retail Energy Market Monitoring report published
The new Quarterly Retail Energy Market Monitoring (QREMM) Report for Q2 2021 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).
This new report format, which utilises Power BI, includes new and updated tables, graphs and infographics. We have amalgamated the three gas network areas into one, so gas is reported on a total NI market basis (which aligns to electricity). Furthermore, the background and methodology sections have been added to the annex to allow the reader to access the substance of the report easier.
The QREMM report presents data we have collected 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.
Some highlights from this latest report include:
- Market activity in the electricity domestic and I&C sectors continues to illustrate a gradual change in the market dynamics. Power NI (the incumbent price controlled electricity supplier) retain their dominant position with 54.9% of connections in the domestic market with continued growth of the competing suppliers (representing 45.1% of domestic connections, an increase from 44.6% for the same period last year).
- Overall electricity switching activity in Q2 2021 has increased from the previous quarter. Domestic customers continue to engage in the market with over 23,300 domestic switches completed during Q2 2021. In the I&C sector, electricity switching also saw an increase during the period with a switching rate of 1.9% (up from 1.0% in the previous quarter), with just under 1,400 switches completed.
- In the gas sector, I&C switching activity saw a small decrease in the switching rate, down from 2.8% in Q1 2021 to 2.2% for Q2 2021. Domestic switching in the Greater Belfast area saw a small increase with 272 switches completed in Q2 2021, up from 235 in Q1 2021.
As this is a brand new format, please get in touch if you find any errors or omissions (firstname.lastname@example.org).
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.
initial publication, the Q2 2021 QREMM report was updated on 3rd September 2021. Any previous report should be disregarded.