Power NI Announce Price Hike

Bill payers in Northern Ireland will be tightening their purse strings in the coming months as Power NI implements a 6% price hike.

The energy company will impose the increase from Tuesday 01 October, meaning the typical household electricity customer can expect to be charged an extra £35 a year, according to the Utility Regulator.

Power NI said the rate change is due to an increase in costs from the electricity network provider and the market operator, which in turn impacts electricity suppliers.

Managing Director of Power NI, Stephen McCully commented: "We work very hard to keep our prices as low as possible. Unfortunately, like all suppliers, we have no alternative but to pay these increased network and market charges, which have a knock-on effect on our prices.

"Having been through a rigorous process with the Utility Regulator, our customers can be sure that although unwelcome, this increase is as low as possible. In fact, Power NI presently has the most competitive rate in the market for customers without tying them in to a fixed term contract."
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The company supplies 57% of homes in Northern Ireland, with prices cutting below the main suppliers in the UK and Ireland. Annual average bills will be around £600, compared to £800 in the Republic of Ireland and £700 in the UK.

The Utility Regulator said the tariff will remain under review, with the hope of reducing it in the future. In relation to gas bills, Chief Executive of the regulator Jenny Pyper said they are hopeful for a reduction in domestic tariffs in the coming weeks.

Power NI helps customers to save money through a range of discounted payment schemes and services. The company says that customers can cancel out this increase with discount of 6%, up to £60 a year, on offer to bill paying customers with online billing and monthly direct debit. Pay as you go keypad customers avail of uncapped discounts, along with free electricity when topping up £50 or more using the free Power NI app or website. Customers can also get a free online Home Energy Check which gives a personalised report on how to save energy and money.

Details of all the deals and help available can be found here.


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