Power NI Passes Price Drop On To Customers

Power NI has announced a 14.1% cut in electricity prices.

The company said the cut, a result of lower gas and coal prices around the world, would shave more than £80 a year off the average customer's electricity bill.

It follows a rise of 18.5% last year.

Effective from the 1st October, this price drop is in addition to a new 6% discount announced by the company for online billing.

This price cut sees Power NI prices below the GB average, below those in the Republic of Ireland and also below the European average.

Stephen McCully, Managing Director of Power NI, said: "We've listened to our customers and we know that great service and better value are more important than ever. So we're delighted to introduce this price reduction. I would like to thank our 675,000 customers for continuing to make us their number one choice and to welcome the thousands of customers coming back to Power NI."

The price reduction covers customers from domestic households and small businesses.

It was welcomed by Glyn Roberts, the head of the Northern Ireland Independent Retail Trade Association.

He told the BBC: "This reduction is very timely given the trend in recent years of ever-rising energy costs on small businesses."

The company said the price cut would remain the same for 12 months if the price of fuel stays stable - but another price review in autumn could change the price again.

(NE)