Power NI, Northern Ireland’s leading energy company, has today announced an increase in prices of 27.5% from 1 July 2022, equivalent to £3.92 a week to a typical household electricity bill.
The tariff change has been approved by the Utility Regulator and applies to domestic customers only. Power NI is the only price-controlled electricity supplier in Northern Ireland, providing customers with an additional level of safeguarding in that tariffs are adjusted through a regulatory formula with all costs approved by the Utility Regulator.
The change is entirely due to the sustained unparalleled price increases witnessed in the wholesale energy markets, which have been impacted by ongoing global issues.
Customers can help offset this increase by ensuring they are on the best payment plan for them and registering for Power NI’s online billing, to save up to £60 per year*.
William Steele, director, Power NI Customer Solutions, said: “We work hard to keep our prices as low as possible and have absorbed costs for as long as we can. Regrettably, geopolitical factors outside our control, have resulted in prolonged high costs in the international wholesale energy markets. Like other suppliers we have no choice but to pay these increased costs, which feed into the price of wholesale electricity and have a knock-on effect on tariffs.
“In these challenging times and with such a volatile market, we held off making this change for as long as possible, with this price change not coming into effect until July 2022. As soon as we see an opportunity to reduce prices, we will do so without delay. For any customers who are worried about paying a bill, please get in contact and we can help you.
“We value all our customers, and we remain committed to helping those who are being impacted by the cumulative rise in the cost of living. As well as working directly with customers, we will continue to work closely with our charity partners and government, assisting in helping those who are struggling. We have worked with government departments providing financial and operational support to help deliver the emergency response fund to the most vulnerable in our society and we are ready to continue to support any future schemes.”
Power NI helps customers to save money through a range of discounted payment schemes and services. Customers can reduce the impact of this increase with a discount of 6%, up to £60 a year, on offer to bill paying customers 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 service on
03457 455 455. Details of all help can be found at www.powerni.co.uk
Power NI is also continuing to work with customers and charity partners that are impacted by increasing costs, with financial support to around 60 charity partners and community groups across Northern Ireland. That help has taken the form of Keypad top ups; aid to food banks and help for older people..