01/11/2024

Power NI Announces 4% Tariff Increase

Northern Ireland energy supplier, Power NI, has today announced a 4% tariff increase.

This relates to its residential unit price, meaning customers will pay an additional 10p per day on average from December 1 onwards.

The company has said the hike in price reflects increases in market operation and network related charges.

The change to the tariff will only apply to domestic customers and has been approved by the Utility Regulator.

William Steele, Director of Power NI Customer Solutions, said: "We work hard to keep our prices as low as possible. However, wholesale prices remain high and significant increases in third party market operation and network related costs have regrettably necessitated a tariff increase. 

"In these challenging times, we have held off changing prices for as long as possible and we have been able to keep our tariffs below the equivalent GB and ROI average."

Customers can help reduce the impact of this tariff increase by ensuring they are on the best payment plan for their needs. This includes choosing options like paying by direct debit and registering for online billing which include extra discount.

William Steele continued: "We value our customers and we are continuing to work closely with our charity partners and other key stakeholders across our local communities to provide support to those in need.
News Image
"We have a range of support available from tariff advice to energy saving tips and account support, so if anyone is worried about paying bills, please contact us directly, we are here to help."

Karen Smyth, Director of Infrastructure and Sustainability at the Consumer Council, also discussed the tariff change.

She said: "From December, over 500,000 homes in Northern Ireland will see their annual electricity cost rise to just under £990 a year for a typical credit customer and just under £965 a year for a typical keypad customer.

"While this is unwelcome news, we are aware the main driver for this is an increase to market operation and network costs, unfortunately this is being passed unto consumers. 

"This is the first tariff increase from the regulated Power NI in two years and the Consumer Council work closely with the Utility Regulator to ensure consumers are protected and supported, and no unnecessary costs are added, or additional profits are made by the supplier.

"We know from our research that most consumers in Northern Ireland are still really worried about home energy prices. We urge anyone who is struggling to pay their electricity bills or top-up their keypad meters to contact their supplier directly for help and support.

"We would also encourage consumers to think about the way they pay for their energy and see if they can reduce their energy costs. 

"Being on a standard tariff and paying on receipt of a bill is the most expensive way to pay for your electricity. Switching payment option, changing billing method or even switching supplier can save some money."

Related Northern Ireland News Stories
Click here for the latest headlines.

22 November 2024
Major Drug Bust In Omagh Linked To INLA
Detectives from the Paramilitary Crime Task Force have made a significant drug seizure in Omagh. Officers searched a van in the Doogary Road area on Thursday morning, 21st November, and recovered a substantial quantity of suspected cocaine with an estimated street value of £750,000.
29 November 2024
£1.2m Fund To Support Pre-School Children With SEN
Education Minister Paul Givan has announced a £1.2 million fund to support pre-school children with special educational needs (SEN). The pilot fund will provide financial support to pre-school settings that have at least one child undergoing a statutory assessment of their educational needs.
10 September 2002
MLA's call for new firefighters pay scheme
Two UUP MLA's have called on the Northern Ireland Executive to implement a new pay scheme for Ulster's firefighters. North Antrim UUP MLA the Rev Robert Coulter called for the introduction of a new pay formula in a motion to the Assembly on Monday. Mr Coulter said he hoped it would help achieve a real remedy to the question of firefighter’s pay.
04 October 2022
'Disgrace' Households Have No Clarity Over Financial Support
The Alliance Party has said it is a "disgrace" households are still awaiting clarity about when they will receive financial support, despite energy price increases.
20 March 2023
Power NI Announces Tariff Reduction From 01 April
Northern Ireland's largest electricity supplier, Power NI, is set to decrease its tariff by 16.2% effective 1 April 2023 for over 474,000 households. This price reduction coincides with the UK Government's announcement that the rate of EPG is reducing in Northern Ireland from 13.608p/kWh to 3.