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Despite a wholesale electricity price fall resulting in a tariff decrease, Power NI have announced that householders bills will still go up by 5.1% from 1 July. The electricity provider explains that the UK Government Energy Price Guarantee support scheme is finishing from 1 July and that means "unfortunately customers will see an overall increase of 5.1% in prices."
In a statement a Power NI spokesperson said "Power NI has today [2 June] announced that a review of its underlying residential unit price has resulted in a 2.4p per unit* (7.1%) decrease, due to a fall in wholesale market costs. This is Power NI’s third tariff decrease in 2023. The UK Government however has announced that their Energy Price Guarantee (EPG) support, which provided a unit rate discount on energy bills, will be reduced to zero, from 1 July 2023."
Power NI standard rate excluding the Government EPG scheme will be 31.72p/kWh Inc. VAT from 1 July 2023.
It's an average tariff increase of 1.5p per unit* for residents and comes at a time when prices charged to consumers across the board are continuing to rise.
William Steele, Director, Power NI Customer Solutions, said “As prices have continued to fall, Power NI has welcomed another chance to further reduce its underlying unit prices for customers, with our third tariff reduction of the year. Despite this good news, the decision by the UK Government to remove its Energy Price Guarantee support means that unfortunately customers will see an overall increase of 5.1% in prices.
William Steele continues “We continue to work closely with our charity partners and other key stakeholders to ensure the most vulnerable in our local communities get the help they need. If anyone is worried about paying bills, please contact us directly, we are here to help.”
Power NI is continuing to work with customers and charity partners across Northern Ireland that are impacted by increasing costs. That help has included Keypad top-ups; aid to food banks and help for older people, as well as supporting local community groups.
Power NI also helps customers to save money through a range of discounted payment schemes and services. Bill paying customers can save up to £60 a year through online billing and monthly Direct Debit. Pay as you go Keypad customers get uncapped discounts, as well as free electricity when topping up £50 or more using the free Power NI app or via the website. Power NI customers can top up from the comfort of their own home, with our free app, online or by calling our self-service 24/7 telephone line on 03457 455 455. Details of all help can be found at www.powerni.co.uk
