Power NI’s 10.3 per cent tariff reduction has received a broad welcome.
Richard Williams, Head of Energy at the Consumer Council said: “This is good news for Power NI customers. Domestic consumers will see prices reduce by around £54 per year and regulated business customers by £200.
“Power NI has been able to adjust their tariffs due to reductions in the wholesale cost of electricity. The Consumer Council would now like to see the other five domestic electricity suppliers in NI follow suit, and at least reflect this reduction within their own prices,” he said.
Richard concluded: “We strongly encourage all consumers to visit our website to see how they can get the best energy deal. Our price comparison chart shows consumers how they can save money by changing their supplier, or even just their payment method.”
Power NI’s new tariffs will be in place from April 1, 2016.
Foyle MP Mark Durkan said: “Any cut in electricity prices is to be welcomed after the huge price surge of recent years.
“This will help hard-pressed home and business owners in Derry and throughout the North who have been feeling the pinch from a rise in other costs of living.
“At Westminster with other MPs I have been raising the fact that changes in wholesale gas and oil prices haven’t been passed on fully to household consumers or at the pumps to car owners.
“Whilst bigger reductions would be more welcome, this announcement by Power NI goes some way to restoring faith that energy companies are willing to pass on savings to the public when they can be made. It also highlights that the regulator is now in a better policing position on prices.”