Power NI announce 10% drop in electricity prices

Power NI has announced a 10% price reduction for electricity.

The change will apply from November 1, and is the result of the government’s energy price cap.

The cap sets the highest price that suppliers can charge domestic household for energy, and is set to apply to all electricity and gas suppliers in Northern Ireland from the start of November.

In a statement, Power NI said the 10% reduction will equate to a saving of £97 for the average customer.

William Steele, director of customer solutions at Power NI, said the energy provider works hard to keep prices as low as possible.

“In these challenging times, despite continued upward pressure on energy prices, we have not increased our unit rate for residential customers since July 2022,” he said.

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

“Further support has also been announced for residential customers and we are working with the UK Government and Northern Ireland Utility Regulator to apply the Energy Bill Support Scheme (EBSS) £400 credit to our customers’ electricity accounts as soon as possible.”