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17/10/2022
Power NI To Increase Electricity Tariffs By 60.5%
Northern Ireland's largest electricity supplier, Power NI is set to increase its tariff by 60.5% from 1 November 2022, impacting over 471,000 households.
However, this significant increase will be offset by the UK Government Energy Price Guarantee Scheme that will take effect for all domestic energy consumers on the same date.
With the Energy Price Guarantee Scheme coming into effect on 1 November, Power NI consumer bills will be around 10% cheaper than current Power NI tariffs. The Energy Price Guarantee will be in place for two years and will apply to every domestic consumer's electricity bills regardless of their supplier.
Peter McClenaghan, Director of Infrastructure and Sustainability at the Consumer Council said: "Thankfully, the Government's Energy Price Guarantee has helped avoid what would have otherwise been a very large price increase for Power NI customers on 1 November 2022. Instead, Power NI customers will experience a welcome reduction in their bills as will all other domestic electricity consumers.
"Northern Ireland has five different electricity suppliers, all offering different rates, payment options and billing methods. Switching between suppliers or making sure you are on the best deal your current supplier provides could help reduce your energy bills.
"Even when the Energy Price Guarantee is in place, energy bills will be higher than normal and some consumers in Northern Ireland could save hundreds of pounds per year simply by switching supplier.
"To make the switching process easier the Consumer Council provide a free, independent, energy price comparison tool on our website which compares every energy tariff available in Northern Ireland to help you get the best deal.
"The Energy Price Guarantee is a discount applied to the price of a unit of energy, not a price cap. This means your exact bill will still depend on how much energy you use. Therefore, we encourage everyone to reduce your energy use if you can and aren't already doing so."
However, this significant increase will be offset by the UK Government Energy Price Guarantee Scheme that will take effect for all domestic energy consumers on the same date.
With the Energy Price Guarantee Scheme coming into effect on 1 November, Power NI consumer bills will be around 10% cheaper than current Power NI tariffs. The Energy Price Guarantee will be in place for two years and will apply to every domestic consumer's electricity bills regardless of their supplier.
Peter McClenaghan, Director of Infrastructure and Sustainability at the Consumer Council said: "Thankfully, the Government's Energy Price Guarantee has helped avoid what would have otherwise been a very large price increase for Power NI customers on 1 November 2022. Instead, Power NI customers will experience a welcome reduction in their bills as will all other domestic electricity consumers.
"Northern Ireland has five different electricity suppliers, all offering different rates, payment options and billing methods. Switching between suppliers or making sure you are on the best deal your current supplier provides could help reduce your energy bills.
"Even when the Energy Price Guarantee is in place, energy bills will be higher than normal and some consumers in Northern Ireland could save hundreds of pounds per year simply by switching supplier.
"To make the switching process easier the Consumer Council provide a free, independent, energy price comparison tool on our website which compares every energy tariff available in Northern Ireland to help you get the best deal.
"The Energy Price Guarantee is a discount applied to the price of a unit of energy, not a price cap. This means your exact bill will still depend on how much energy you use. Therefore, we encourage everyone to reduce your energy use if you can and aren't already doing so."
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Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
