Power NI Announce 21.4% Price Hike

Power NI will increase its prices for domestic customers by 21.4% from 01 January 2022, with the typical household bill set to rise by approximately £2.50 a week.

Northern Ireland's leading energy company has said that the increase is "entirely due to the unparalleled rise in prices across the global wholesale gas markets", with Power NI stating that it has "no option but to pass these costs on".

Customers can help offset this increase by ensuring they are on the best payment plan for them and registering for Power NI's online billing, to save up to £60 per year.

William Steele, Director, Power NI Customer Solutions, said: "We work very hard to keep our prices as low as possible, but regrettably there has been a rapid and sustained increase in wholesale gas prices over recent months. Like other suppliers, we have no choice but to pay these increased costs, which feed into the cost of wholesale electricity and have a knock-on effect on our tariffs.

"In these challenging times and with such a volatile market, we held off making this change for as long as possible, with this price change not coming into effect until January 2022. As soon as we see an opportunity to reduce prices, we will do so without delay. For any customers who are worried about paying a bill, please get in contact and we can help you.

"We value all our customers, and we remain committed to helping those who are being impacted by the cumulative rise in cost of living. As well as working directly with our customers, we will continue to work closely with our charity partners, assisting them in helping those who are struggling and providing free energy advice."

Power NI is the only price-controlled electricity supplier in Northern Ireland, providing customers with an additional level of safeguarding in that tariffs are adjusted through a regulatory formula with all costs approved by the Utility Regulator.