Power NI has today [1 March] announced that a review of its residential unit price has resulted in a 6.3% (2p per unit) decrease, due to a fall in wholesale market costs. This is the fourth consecutive decrease for the supplier and will take effect from 1 April 2024, meaning that customers on average will make further savings of £64* per year.
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 Utility Regulator approved process.
William Steele, Director, Power NI Customer Solutions, said: “As wholesale prices in the global market have fallen, Power NI has been able to deliver yet another decrease in unit prices for our customers, with our fourth consecutive tariff reduction.
“Despite market volatility we have been able to keep our tariffs below the equivalent GB and RoI average, enabling us to continue to provide stability and delivering hundreds of pounds in savings for local households over the last year.”
William Steele continues: “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. 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.”
Power NI is continuing to work with customers and charity partners across Northern Ireland that are impacted by increasing costs. That help has included Keypad top-ups; aid to food banks and help for older people, as well as supporting local community groups.
Power NI also 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 automated 24/7 payment line on 03457 455 455. Details of all help can be found at www.powerni.co.uk/energy-bill-support
*£64 per year decrease is calculated using the Power NI standard Home Energy unit rate and an average usage of 3,200 units (kWh) per year.
Effective date – 1 April 2024. Power NI will be writing to all customers to inform them of this.
Power NI standard rate is 28.31p/kWh Ex.VAT / 29.73p/kWh Inc. VAT from 1 April 2024.
+ GB rate based on Ofgem CAP 1 April average annual bill
^ this annual bill amount of £1,291 is based on 12month at VAT rate 9%.
*To avail of Energy Online you must already be a monthly Direct Debit (DD) customer. Monthly Direct Debit customers with Energy Online get 6% discount up to £15 per quarter, up to £60 per year. The maximum discount would be obtained by a customer spending £250 each quarter on electricity.
Keypad customers will receive 2.5% off Power NI standard rate.
Keypad rate applies to the effective unit rates including the benefit of the reward; buy £50 top-up online or via the Power NI app, get £1 FREE. Additional reward is available; top-up £80 get £2 FREE, top-up £125 get £3 FREE, top-up £150 get £4 FREE
