Power NI, Northern Ireland’s leading energy company, has today announced an increase in prices of 6.9% from 1st July adding 76p a week to a typical household electricity bill.
The rate change applies to domestic customers only, is agreed with the Utility Regulator and is due to a steady increase in the cost of wholesale electricity. Business and farm tariffs remain unchanged.
Following a reduction in 2020, today’s announcement brings Power NI’s prices back to where they were in 2019 and still amongst the cheapest in Northern Ireland, without tying households into a contract - as well as being well below the average tariff in the Republic of Ireland, GB and across the EU.
Customers can offset this increase by registering for Power NI’s online billing, which is paperless so better for the environment, and 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 world fuel prices have been increasing 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 we held off making this change for as long as possible, with this price change not coming into effect until July. As soon as we see an opportunity to reduce prices, as we did last year, we will do so without delay. For any customers who are worried about paying a bill, there is no need to be concerned, please get in contact as we can help you.”
Since the outset of the pandemic, Power NI has been working with and helping customers who have been financially impacted by Covid-19. Power NI has donated over £120k to around 70 charity partners and community groups across Northern Ireland to help customers who have been impacted financially or otherwise by Covid-19. That help has taken the form of Keypad top ups; food parcels; help for older people and the homeless and providing tablets and other technology for school children. This support also includes community groups our staff are involved with giving out food parcels; meals and essential equipment.
“We value the loyalty of our customers and we thank those who have used our online and automated phone services during the pandemic to top up or manage their accounts, which has made sure we have staff free to help the most vulnerable and those who need our help.”
Power NI also helps customers to save money through a range of discounted payment schemes and services. Customers can reduce the impact of this increase with a discount of 6%, up to £60 a year, on offer to bill paying customers 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 website. Power NI customers can now top up from as little as £5 or manage their account, all 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 here.
The company has pointed out that as it is the only price-controlled electricity supplier in Northern Ireland, Power NI customers have an additional level of safeguarding in that tariffs are adjusted through a regulatory formula with all costs approved by the Utility Regulator.
There is no increase to Power NI Businesses or Farm commercial standard tariffs. Unlike domestic tariffs, commercial energy plans are structured differently with many having personalised contracts through either a market tracker or a fixed price deal. Electricity prices for smaller businesses in Northern Ireland are amongst the lowest in Europe and cheaper than in the Republic of Ireland and the rest of the UK. There are a number of ways Power NI Business and Farm customers can reduce energy costs through a range of discounts, with free energy saving advice and grants also available.