Overview

Irish businesses are feeling the squeeze from energy market volatility, but a surprising chunk of costs are avoidable. In this episode, Stephen King, CEO of Energy Matters Ireland, explains why 20–25% of commercial customers drift out of contract and end up paying 40–50% more than they should. He breaks down the hidden non-commodity charges that now account for around 55% of a typical bill, why generation is the ultimate price protection, and how simple steps like audits, smarter contracts, solar PV, and centralised procurement can deliver quick, measurable results.

King also contextualises the recent price shocks: during the Ukraine–Russia crisis, delivered electricity costs jumped from ~16–17c to 75–80c per kWh. While prices have eased, they remain well above pre-2020 levels. The strategic takeaway? Don’t wait for the market to settle. Lock in fair terms, measure usage, act on the audit, and own part of your supply where possible.

This conversation is practical and immediately applicable, ideal for CFOs, operations leaders, and multi-site owners who need to bring spend under control while progressing sustainability goals.

Listen Now

Watch on YouTube: The Energy Canvas – YouTube Channel
Listen on Spotify: The Energy Canvas on Spotify
Listen on Apple Podcasts: The Energy Canvas on Apple Podcasts

What We Cover

• How 20–25% of businesses end up out of contract—and why that can add 40–50% to bills
• Why non-commodity (network/use-of-system) charges can be ~55% of your invoice
• Solar PV paybacks of 2–3 years thanks to higher tariffs, grants, and export payments
• Where SEAI audit vouchers (€2,000) typically reveal 30–40% reduction opportunities
• How centralised procurement can reduce multi-site energy costs by 12–15%
• The business case for self-generation as protection against future grid and regulatory rises 

Key Takeaways

• Check your rate & status today. If your delivered price is ~30c/kWh or higher, or your contract has quietly lapsed, you’re likely overpaying.
• Audit → action. A structured energy audit (often funded via SEAI vouchers) usually identifies 30–40% savings across usage, tariffs, technology, and behaviour.
• Short ROI is real. Solar PV can return in 2–3 years—faster for non-profits or where grants (often 25–100%) apply—plus export payments improve the numbers further.
• Beat the 55%. With non-commodity charges rising, self-generation sidesteps a big portion of network costs and stabilises your exposure.
• Unify buying power. Centralised procurement for multi-site operators standardises terms, reduces leakage, and commonly saves 12–15%. 

Deep Dive: Why Irish Energy Costs Swing, and What To Do About It

The Irish market’s volatility isn’t just about wholesale prices; it’s also about contracts, timing, and structure. Many firms roll from a fixed term into out-of-contract rates without realising it. Several suppliers add 15–25c/kWh penalties in these cases, translating into 40–50% higher bills. A simple contract calendar (or a trusted energy broker) prevents this entirely.

Then there’s the bill itself. Businesses often focus on the unit rate but overlook non-commodity charges, the regulated use-of-system, metering, and network costs that deliver electricity to your meter. These charges have increased and can now represent around 55% of your total bill, which is why generation on your own roof is such a powerful lever: those network add-ons don’t apply to the kilowatt you produce yourself.

Solar PV is now a mainstream investment rather than a “nice-to-have.” Higher grid prices + capital grants + export revenue mean many systems pay back in 2–3 years, even large arrays in the €50–70k range. For non-profits, grant coverage can reach 100%, putting decarbonisation and cost reduction within immediate reach. Pair this with efficiency upgrades (HVAC optimisation, controls, refrigeration, insulation) and most organisations can permanently lower their energy intensity.

For multi-site operators, fragmented buying is another hidden cost. King outlines how centralising procurement aligns tariffs, eliminates inconsistent site-by-site deals, and creates negotiating power, freeing 12–15% savings at scale. In one example, a €96m energy spend could drop €12–14m—the equivalent of a major profit uplift without increasing turnover.

Results That Move the Needle

King shares tangible outcomes: a hotel that hadn’t reviewed post-crisis contracts saved €242,000 in year one through better procurement; a nine-site retailer saved €180,000 simply by switching supplier and standardising terms. These aren’t edge cases; they’re typical of businesses that have been focused on operations rather than energy market mechanics.

The mindset shift is simple: treat energy like a strategic category, not a utility to be paid. Start with visibility (rate, status, usage). Use audits to prioritise measures. Lock in the right contract, then invest in on-site generation to de-risk what you can’t control.

Guest: Stephen King

Stephen King is the CEO and founder of Energy Matters Ireland, helping businesses across Ireland transition to cleaner, more efficient energy systems. With a Bachelor’s in Environmental Studies and over a decade of experience in energy management, brokerage, and renewable technologies, Stephen’s team delivers contracting, procurement, solar PV, EV charging, and sustainability consultancy. He’s known for transparent, results-driven work, routinely delivering six-figure annual savings for clients by fixing contracts, standardising procurement, and rolling out generation projects.

Connect with Stephen:
Website: https://www.energymattersireland.ie/

Memorable Quotes

“We know the energy market, we know the suppliers, we know the tricks of the trade.”

“We generally find 30–40% reductions, solar PV is often a big driver.”

“If you’re doing things sustainably, you will drive your business forward.”

Ireland’s Business Playbook: Control What You Can

The Irish energy landscape will remain dynamic. Wholesale prices respond to global shocks; regulated charges evolve with infrastructure needs. What you can control is contract structure, procurement discipline, measured usage, and how much you self-generate. For many SMEs and mid-market firms, those four levers are the difference between absorbing volatility and getting ahead of it.