NI households 'save £83' on electric

Published Thursday, 23 August 2012

The average household in Northern Ireland will save £83 a year on their Power NI electricity bill, following a price decrease confirmed on Thursday.

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The company's reduced tariff will apply for customers from 1 October this year.

The Utility Regulator welcomed the 14.1% decrease as good news and a visible sign that regulation is working for customers across Northern Ireland.

"Following this price decrease, regulated domestic electricity prices in Northern Ireland will be below the GB average and around 15% cheaper than current ROI prices," Utility Regulator Shane Lynch said.

"Other suppliers in the market are now likely to review their prices in light of this announcement.

"As always, we will continue to monitor wholesale fuel costs and any significant changes in these costs that could result in a tariff review."

The Consumer Council's CEO Antoinette McKeown added: "As Power NI have almost 90% of the domestic market, most local households will be affected."

I'm delighted that regulated electricity prices are reducing for domestic and small business consumers.
Shane Lynch, Utility Regulator

The announcement is part of the annual tariff review that is undertaken by Power NI and the Utility Regulator, in consultation with the Department of Enterprise, Trade and Investment and the Consumer Council for Northern Ireland.

It has also been welcomed by the Northern Ireland Independent Retail Trade Association (NIIRTA).

Chief Executive Glyn Roberts said: "This is clearly good news for both our members and hard pressed working families.

"This reduction is very timely given the trend in recent years of ever rising energy costs on small businesses. It also reduces pressure on disposable income of working families, which in turn may result in a small increase in consumer spend."

Power NI is cutting the cost of electricity by just over 14 per cent from the beginning of October
— Jamie Delargy (@Jamie_utv) August 22, 2012

Comments

5 Comments

jack in belfast wrote (274 days ago):

I'm with Budget Energy, they're 18% cheaper than PowerNI, so I'm sure they will drop their prices to keep themselves as the cheapest supplier. It will be interesting when Airtricity rebrand Phoenix Gas as Airtricity Gas and offer the first dual gas & power service in NI. Finaly a competitive enery sector in NI.

Vivieen Kee in Strabane wrote (275 days ago):

Does this mean that the government actioned budgeted competition companies, such as Airtricity and Budget are to reduce their tariffs inline with powerNI? As they state that they shall keep the tariffs, 14% and 17% below the The leading market competitor in Northern Ireland. .is this the case I wonder?

Paul in Tyrone wrote (275 days ago):

Am I correct in saying that when I signed up to Airtricity last year, they stated that for the 1st year they would always be at least 14% cheaper than NI and then maybe 8% cheaper in the 2nd year?

norman.d in bangor wrote (275 days ago):

NIelectric are losing that many consumers they had to drop their prices i will stay with the company i am with once bitten is enough the price will only last a year then up it goes

AndyB in Belfast wrote (275 days ago):

PowerNI have pulled an absolute coup here. SSE, the owners of Airtricity, announced a tariff rise yesterday of 9% in GB. Most or all of Airtricity's customers here are on two year tariffs tied to PowerNI tariffs, so PowerNI has just ensured that Airtricity won't be making much money here for the next year!