May 11, 2020

Power NI to cut electricity bills by £29 a year

Power NI to cut electricity bills by £29 a year

Gary McDonald Business Editor

CUSTOMERS of the north’s biggest energy supply Power NI will see their bills fall from July 1 by around 55p a week.

Tariffs for its 450,000 households will dip by 4.8 per cent, reflecting recent falls in wholesale prices, and it means the typical annual bill comes down by £29.

It represents the largest decrease in electricity bills in the UK or Ireland this year, and the annual average bill for Power NI customers will now be £571 compared to £704 in Britain and £798 in the Republic

Last year Power NI upped its tariff by nearly 14 per cent and the year before it was more than five per cent.

The supply firm’s managing director Stephen McCully said the combined saving means a boost of around £13 million for the region’s economy.

“This price cut is more important now than ever, with more families staying at home.

“It will enable people to either save more of their own money, or to spend elsewhere and put something back into the local economy.”

The modest cut comes after a review by the Utility Regulator.

Its chief executive Jenny Pyper said: “In setting this tariff, we’ve had one eye on the future, and despite the uncertain times, we are hopeful it makes any increase in bills later in the year very unlikely.”

Paulino Garcia from the NI Consumer Council said: “It’s a really tough time for households and businesses so this saving, although small, must be welcomed.”

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