Power NI to Drop Electricity Price by 10 Per Cent

Q Radio News

Power NI customers will see their bills drop by 10 per cent from the beginning of November as a result of the energy price cap.

The company was to put prices up by 60 per cent from the start of next month but the price cap will see this increase reversed with prices coming down instead.

The cap, which dictates how much energy companies can charge domestic households for each unit of energy, will apply to all gas and electricity providers in Northern Ireland from the beginning of November.

Households in  North Ireland are to receive a rebate to bring them in line with customers in the UK who saw the cap applied from the beginning of this month.

“This means that the typical Power NI customer’s bill will be 38% lower than the equivalent in Great Britain and 48% lower than the equivalent in the Republic of Ireland. 

William Steele, Director, Power NI Customer Solutions, said: "As many customers will already be aware, the UK Government has announced a major intervention into the energy market called the Energy Price Guarantee (EPG).

"This means that from 1 November 2022, energy bill support will be provided to Northern Ireland residential customers, by reducing the underlying cost of electricity.

"Although we now must substantially increase our underlying price to reflect the current market, the implementation of the EPG will mean our customers will see a reduction in their billed tariff level of 10%."