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First Year Cost
First Year Cost Calculations for Smart and Standard
The First Year Cost is calculated based on expected average consumption for electricity 4,200 kWh (using ESB Networks Standard Smart load profile split) and Gas 11,000kWh.
It includes VAT and all energy-related charges such as the Standing Charge and PSO Levy for electricity and the Standing Charge and Carbon Tax for gas. It does not include non-energy related items such as energy credits for switching loyalty points or non-cash offers
ESB Networks load profile split Standard Load Profiles (rmdservice.com)
| Home Electric + Night Boost | Urban | Rural |
|---|---|---|
| Day | 63% | 66% |
| Night | 29% | 27% |
| Boost | 8% | 7% |
Home Electric + Saturday/Sunday Weekender | Urban | Rural |
|---|---|---|
Day | 54% | 56% |
Night | 37% | 34% |
Peak | 9% | 10% |
For electricity, the First Year Cost amount also takes into account the following information;
- If your meter is Urban or Rural
- If your meter is 24 Hour or Day/Night
- If you have Night is Storage Heating
An example of how the First Year Cost is calculated for an electricity Urban 24 Hour meter customer on our standard tariff, is given below. Note that the example is for illustrative purposes only and may not reflect current prices.
CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Total |
|---|---|---|---|
Standing Charge per day ex. VAT | 0.6303 | x 365 | €230.06 |
Day Unit Rate (kWh) ex. VAT | 0.3287 | x 4200 | €1,380.54 |
PSO | -€38.76 | ||
Total cost ex. VAT | €1,649.36 | ||
Plus 9% VAT | €144.95 | ||
Total First Year Cost | €1,797.8 |
An example of how the First Year Cost is calculated for an electricity customer with a smart meter on Home Electric+ Night Boost plan, with a welcome credit applied, is given below. Note that the example is for illustrative purposes only and may not reflect current prices.
CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Load Profile | Total |
|---|---|---|---|---|
Standing Charge per day ex. VAT | 0.8259 | x 365 | €301.45 | |
Day Unit Rate (kWh) ex. VAT | 0.3510 | x 4200 | x 63% | €928.75 |
Night Unit Rate (kWh) ex. VAT | 0.1731 | x 4200 | x 29% | €210.84 |
Night Boost Unit Rate (kWh) ex. VAT | 0.1016 | X 4200 | x 8% | €34.14 |
PSO | -€38.76 | |||
Total cost ex. VAT | €1,513.94 | |||
Plus 9% VAT | €136.26 | |||
Total First Year Cost | €1,650.20 |
Urban or Rural
This information can be found on your bill. ESB Networks classifies Urban customers as DG1 and Rural customers as DG2.
24 Hour or Day/night Meter
A Meter Configuration Code (MCC) is associated with each meter. This code identifies the type of meter. It is a code that is used to describe the type of meter (or its functionality) that measures the amount of electricity that passes through the Connection Point at your house/premises.
- MCC01: 24 Hour meter
- MCC02: Day/Night meter
- MCC03: 24 Hour meter with Night Storage Heating
- MCC51: Day/Night meter with Night Storage Heating
(This information can be found on your bill)
The Commission for the Regulation of Utilities (CRU) advise that for customers with a Day/Night meter, the load profile split should assume 68% of electricity is consumed during the day and 32% is consumed at night.
Night Storage Heating
This type of meter is available to customers who heat their homes with electricity.
The Commission for the Regulation of Utilities (CRU) advise that for customers with a Night Storage Heating meter, the load profile split should assume 50% of electricity is consumed by Night Storage Heating.
Savings
Electric Ireland offer our customers enduring savings, which do not expire after one year. We offer savings for receiving your bill electronically (Online Billing), choosing to pay by Direct Debit and being a Dual Fuel customer (take both electricity and gas from Electric Ireland).
If you are a Dual Fuel customer who pays by Direct Debit and receives an online bill, then we will apply an 8.5% savings to the unit rates of both your electricity and gas account.
The First Year Cost is based on each customer’s Price Plan with Electric Ireland. This means that if you are entitled to savings of 8.5%, these savings will be applied to the electricity and gas rates used in the calculation of the First Year Cost.
An example of how the First Year Cost is calculated for an electricity customer entitled to an 8.5% savings, with an Urban 24 Hour meter.
CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Load Profile | Total |
|---|---|---|---|---|
Day Unit Rate (kWh) ex. VAT | 0.3287 | x 4200 | x 100% | €1,380.54 |
Less 5.5 % Discount savings | €75.93 | |||
Total unit cost | €1304.61 | |||
Standing Charge per day ex. VAT | 0.6303 | x 365 | €230.06 | |
PSO | -€38.76 | |||
Total Energy cost ex. VAT | €1,573.43 | |||
Plus 9% VAT | €141.91 | |||
Total First Year Cost | €1715.34 |
Switching Bonus
The estimated first year cost includes energy credits for switching, loyalty points and non-cash offers if applicable.
Large Residential Gas Customers
Customers are classified as Large Residential by Gas Networks Ireland when their annual consumption is greater than 73,000kWh.
Large gas domestic customers will be provided with a gas Estimated Annual Bill, based on average consumption of 11,000kWh and including an estimate of the Capacity Charge as well as the appropriate Savings for Direct Debit, Online Billing and Dual Fuel if applicable.
First Year Cost Calculations for Smart Prepay
The First Year Cost is calculated based on the Estimated Annual Bill (EAB) minus Welcome Credits minus Smart Prepay Welcome Credit where applicable.
It includes VAT and all energy-related charges such as the Standing Charge and PSO Levy for electricity and the Standing Charge and Carbon Tax for gas. It does not include non-energy related items such as energy credits, loyalty points or non-cash offers.
| Home Electric+24hr (Welcome Credit) | |||
|---|---|---|---|
| CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Total |
| Standing Charge per day ex. VAT | 0.63 | x 365 | €229.95 |
| Day Unit Rate (kWh) ex. VAT | 0.3122 | x 4200 | €1,311.24 |
| PSO | €38.76 | ||
| Total cost ex. VAT | €1,579.95 | ||
| Plus 9% VAT | €142.20 | ||
| EAB | €1,722.15 | ||
| Welcome credit | -€150 | ||
| Total First Year cost | € 1,572.15 | ||
| Home Electric+ Smart Standard Tariff (SST) (Urban) | (Smart Prepay Credit) | ||
|---|---|---|---|
| CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Total |
| Standing Charge per day ex. VAT | 0.6303 | x 365 | €230.06 |
| Day Unit Rate (kWh) ex. VAT | 0.3397 | x 2268 (units) | €770.44 |
| Night Unit Rate (kWh) ex. VAT | 0.1785 | x 1554 (units) | €277.39 |
| Peak Unit Rate (kWh) ex. VAT | 0.3624 | x 378 (units) | €136.99 |
| PSO | €38.76 | ||
| Total cost ex. VAT | €1,453.64 | ||
| Plus 9% VAT | €130.83 | ||
| EAB | €1,584.46 | ||
| Smart Prepay Welcome Credit | -€20 | ||
| Total First Year cost | € 1,564.46 | ||
| Home Electric+ 24hr (Smart Prepay Credit and Welcome Credit) | |||
|---|---|---|---|
| CRU Average Annual Consumption 4,200kWh | Unit Rate/Standing Charge | Calculation | Total |
| Standing Charge per day ex. VAT | 0.63 | x 365 | €230.06 |
| Day Unit Rate (kWh) ex. VAT | 0.3122 | x 4200 | €1,311.24 |
| PSO | €38.76 | ||
| Total cost ex. VAT | €1,580.06 | ||
| Plus 9% VAT | €142.21 | ||
| EAB | €1,722.27 | ||
| Smart Prepay Welcome Credit | -€20 | ||
| Welcome Credit | -€150 | ||
| Total First Year cost | € 1,552.27 | ||
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