Drop in electricity costs welcomed

August 28, 2012

Householders and small businesses across the North are set to benefit from a reduction in electricity costs after an announcement that prices are about to drop.

A 14.1% reduction in power prices due to come into effect in October will mean that hundreds of thousands of Power NI customers will save around £83 a year .  The price drop is in addition to a new 6% discount announced by the company for online billing.

The Utility Regulator, Shane Lynch, has said that the reduction is a visible sign that regulation is working for Northern Ireland consumers.

“The announcement is good news for consumers,” he said.

“I’m delighted that regulated electricity prices are reducing for domestic and small business consumers.

“Consumers are free to choose their electricity supplier and I would encourage them to explore the choices available to them.”

Sinn Féin Newry and Armagh MLA, Mickey Brady has welcomed the price reduction.

“Although it does not reflect the massive above inflation increase of last year it will nonetheless represent a welcome reduction in overheads for SME’s, farmers and other commercial users as well as struggling households,” he said.

“It is particularly welcome that it will be introduced in time for the winter months, when usage patterns tend to change and more electricity is used by both business and households.

SDLP MLA Dominic Bradley says the reduction is “long overdue”.

“It is a positive step in the right direction and I give it a general welcome,” he said.

“It’s also important that the fuel suppliers recognize the plight of consumers.  This reduction is one which I believe has been long overdue.”

Ulster Unionist Representative for the Fews area, Councillor David Taylor said the decrease will be welcomed by hard-pressed customers.

“This will go some way to mitigating the effects of the 18.5 % rise which was implemented last year,” he said.

“ This news will amount to a reduction of around £80 from the average annual household

bill which will be invaluable to many families in the current economic climate.”