Price Change 2017

Thursday, August 17, 2017

Power NI, Northern Ireland's leading energy company, has announced that it is increasing prices by 5.6% with effect from 1st October.

 

 

Power NI, Northern Ireland’s leading energy company, has announced that it is increasing prices by 5.6% with effect from 1st October. The price rise is due to increases in the costs of producing electricity, such as the cost of fuel used in power stations.

This will be the first increase since 2013 and has been agreed with the Utility Regulator. Power NI supplies over 60% of local homes and has said that the increase will add just over £2 a month to a typical household bill. The company has revealed that with this change, Power NI prices will still be significantly below the main suppliers in GB, the Republic of Ireland and across Europe.

Stephen McCully, Managing Director of Power NI, said:

“So much is dependant upon world fuel costs, which are outside our control and which have an effect on the price we pay for wholesale electricity.

“We have not increased our prices since 2013, so it is particularly disappointing for us that we have to do so now. However, as we were able to cut our prices over the last four years, a typical Power NI bill will still be roughly £80 less than it was in 2013.

“Unfortunately we cannot avoid this increase, but what we can do, is encourage our customers to take up one of our discount offers, which may help offset it.”

Power NI offers discounts of up to £60 a year with Energy Online and up to £40 a year for spreading the cost with monthly direct debit.  Keypad customers get uncapped discounts along with free electricity when topping up £50 or more via the Power NI website or free app.

Business and farm customers                                                                                

Non-domestic customers on Power NI’s most popular SME business and farm tariffs will also see a similar increase. The increase will add around £2 a week to a small business which has bills of £500 a quarter. Customers can help offset this increase by switching to online, paperless billing with direct debit which offers 6% discount off the standard rate. The impact for larger users on personalised contracts will vary depending on the type of contract.