Power NI, Northern Ireland’s leading energy company, has today announced that residential customers will not face any further increases to the price they pay for electricity this winter.
Due to a recent reduction in wholesale market costs, the UK Government’s Energy Price Guarantee support scheme (EPG) will continue, but with an adjusted level of discount specific to Northern Ireland, for the period from 1 January 2023 to 31 March 2023.
In calculating the rate for Northern Ireland, the Government has adjusted the discount rate from the previous two months (November 2022 to December 2022) to take account of the changes from January 2023 across the regulated tariffs in Northern Ireland.
Following a review process with the Utility Regulator, the underlying Power NI residential price has decreased by 14.2%. This alongside the continuation of the adjusted EPG discount, has ensured that Power NI residential customers will not see any changes to the price they pay for electricity this winter.
Power NI is the only domestic electricity supplier in Northern Ireland who is price regulated, providing customers with an additional level of safeguarding as tariffs are only adjusted through a regulatory formula.
William Steele, Director, Power NI Customer Solutions, said:
“We work hard to keep our prices as low as possible during these challenging times and we welcome the continued support that the government’s Energy Price Guarantee (EPG) scheme is providing to domestic customers in Northern Ireland.
“The support scheme has been updated with a Northern Ireland specific discount for the period between 1 January 2023 and 31 March 2023, which will ensure that our customers will see no changes in their billed tariff this winter.
“We value all our customers and remain committed to helping those who continue to be impacted by the cumulative rise in the cost of living. I would ask, for any customers who are worried about paying a bill, please get in contact and we will help you.
“As well as working directly with customers, we will continue to work closely with our charity partners and other key stakeholders, to ensure the most vulnerable in our society and those who are struggling get the help they need.”
Power NI helps customers to save money through a range of discounted payment schemes and services. Bill paying customers can save up to £60 a year through online billing and monthly direct debit. Pay as you go Keypad customers get uncapped discounts, as well as free electricity when topping up £50 or more using the free Power NI app or via the website. Power NI customers can top up from the comfort of their own home, with our free app, online or by calling our self-service 24/7 telephone service on 03457 455 455. Details of all help can be found at powerni.co.uk/energy-bill-support
Power NI is also continuing to work with customers and charity partners that are impacted by increasing costs, with financial support to around 60 charity partners and community groups across Northern Ireland. That help has taken the form of Keypad top ups; aid to food banks and help for older people.
Power NI continues to engage with the UK Government on an Energy Bill Support Scheme for domestic customers and an Energy Bill Relief Scheme (EBRS) to financially support non-domestic customers with increasing electricity costs.