Homeowners are facing yet another increase to their daily household bills next month.
Despite Power NI announcing a cut to their unit price, customers will still see an increase of 14% on their bills from April 1. The typical standard Power NI credit bill will increase by around £119 as a result.
That’s because of a reduction in the level of support being offered through the UK Government’s Energy Price Guarantee (EP) Scheme.
Today, Power NI said that a review of its underlying residential unit price has resulted in a 6.61p per unit (16.2%) decrease. This is due to a fall in wholesale market costs.
This is the second Power NI underlying tariff reduction in 2023.
William Steele, Director, Power NI Customer Solutions, said: “A decrease in wholesale energy prices has enabled Power NI to again reduce its underlying unit price.
“However, the recent change by the UK Government to its Energy Price Guarantee means that a lower level of scheme discount will be applied to all electricity bills. Unfortunately, this means customers will see a 14% increase in prices.
“We understand that some customers may be worried about paying bills. We would ask for any concerned customers to contact us directly and we will help you.
“As well as working directly with customers, we will continue to work closely with our charity partners and other key stakeholders, to ensure the most vulnerable in our society and those who are struggling get the help they need.”
Details of all help can be found at www.powerni.co.uk/energy-bill-support
Meanwhile, Peter McClenaghan, Director of Infrastructure and Sustainability at the Consumer Council said that due to the change in EPG, “it is likely that the other four unregulated electricity suppliers in Northern Ireland will increase their prices, accordingly, meaning that consumers should consider reviewing their tariff in the coming months to ensure they are on the best deal for their needs, as money can be saved by switching supplier, tariff, or billing method”.
He added: “We know from our pulse survey that most consumers in Northern Ireland are still really worried about home energy prices. We urge anyone who is struggling to pay their energy bills or top-up their meters to contact their supplier directly for help and support.”
The Consumer Council’s website also contains information on energy efficiency, and an overview of all financial help, grants, and schemes available to help with high energy costs: www.consumercouncil.org.uk/costofliving/energy
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