Share Energy, based in Belfast, launched in September 2024 and is the newest electricity supplier in Northern Ireland1. The company sells electricity to households in a market that operates separately from Great Britain's, and it claims it will share 50% of future profits with customers1.
The supplier offers both monthly and pay-as-you-go tariffs, covering 24-hour standard unit rates and economy 71. It also has a monthly tariff, Share EV, which offers a lower night rate for owners of electric vehicles1.
On the profit-sharing claim, eligibility depends on being a customer on the pay out date1. Share Energy predicts that when it eventually turns a profit, the share date will most likely occur in July1. No date has been reported for when the company expects to become profitable, and no figure has been reported for what an individual household might receive.
Northern Ireland's electricity market has more choice than its gas market, where households can choose only between Firmus Energy and SSE Airtricity Gas1. Power NI has the most customers of any Northern Ireland energy firm, supplying nearly 500,000 homes, followed by SSE Airtricity with more than 150,000 homes and Budget Energy with more than 90,000 customers1. Electric Ireland has more than 60,000 customers in Northern Ireland1. Click Energy launched in 20151. The market is regulated, which Which? describes as making prices relatively stable, though it notes the recent energy crisis has had an effect and customers have seen prices rise1.
"Share Energy claims it will share 50% of future profits with customers."
Why it matters for households
A new entrant adds a further option in a market where electricity supply is separate from gas supply, so dual fuel tariffs are not common1. Households choosing between suppliers are comparing electricity-only deals, and many companies in Northern Ireland offer a pay-as-you-go or keypad tariff where customers top up before using power1.
The profit-sharing claim is unusual among the suppliers described, but it is a claim rather than a payment: it depends on the company making a profit, and on the household still being a customer when any payout date arrives1. Nothing has been reported on the size of any individual payout or on when a first payout might occur beyond the company's own prediction of July1.
For a home's energy independence, the practical effect is choice of supplier rather than choice of fuel. Around two in every three homes in Northern Ireland are heated by oil, according to the Utility Regulator, and the gas network is expanding to reach more homes1. Electricity suppliers therefore compete for the portion of household energy that runs through the meter, while heating oil sits outside that market for most homes1.
What happens next
No dated next steps have been reported for Share Energy beyond the company's prediction that a profit share date would most likely fall in July1.
Sources1 cited
- Northern Ireland electricity and gas - Which?, which.co.uk