Power NI has today (12th May) announced that it is cutting domestic prices by 4.8% providing a saving of nearly £30 a year[1] for the typical household.
The cost of fuels used to generate electricity have come down, which means that from 1st July, over 450,000 customers across Northern Ireland will be able to benefit from this annual saving which means a boost of around £13m for the local economy.
Announcing the price cut, Power NI’s Managing Director, Stephen McCully said: “We are pleased to be able to help households across Northern Ireland with this price cut, which is now more important than ever with more families staying at home.
“Since the outset of the pandemic, Power NI has been working with and helping customers who have been financially impacted by Covid-19. Today’s announcement will enable people to either save more of their own money or to spend elsewhere and put this money back into the local economy.
“From 1st July, our customers will be paying significantly less than households in the Republic of Ireland; GB and across Europe.”
Outlining the support available, Stephen added: “We are here to support our customers. We would like to reassure any of our customers who are worried about paying a bill that there is no need to be concerned, please get in contact as we can help you. We are also working with and have provided funding to around 50 charity partners and community groups across Northern Ireland to assist them as they seek to help customers who have been impacted by coronavirus. If you have any difficulties or concerns, please contact us. We are here to help.”
Stephen concluded: “We’d also sincerely like to thank our customers who have self served using our online and automated phone services 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 most.”
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.
Business Customers Seeing Reduction
The overwhelming majority of Power NI SME customers (small and medium-sized enterprises) are already benefitting from the reduction in wholesale costs as these savings are being passed on to them directly as they are on tracker rate contracts. This means that any savings are passed on to them immediately. Whilst this price reduction relates to domestic customers, Businesses and Farm customers are benefitting from the same underlying reduction in generation costs. Many have personalised contracts with either a market tracker or a fixed price deal, the impact on prices will vary depending on contract type and tariff. 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. Details of all help can be found at www.powerni.co.uk/business
Whilst this price reduction relates to domestic customers, Businesses and Farm customers are benefitting from the same underlying reduction in generation costs. Many have personalised contracts with either a market tracker or a fixed price deal, the impact on prices will vary depending on contract type and tariff. 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. Details of all help can be found at www.powerni.co.uk/business
[1] Typical bill based on annual consumption of 3,200kWh including 5% Vat = £571
