Power NI: Northern Ireland’s biggest energy supplier announces price increase

The rise means a typical Power NI customer with a credit meter will see their bill rise by around £38 per year, while customers with a keypad (PAYG) meter will see a yearly increase of about £37.

Power NI said the rise ‘reflects increases in market operation and network related charges’, meaning that customers on average will pay an additional 10 pence per day.

The supplier said the tariff change has been approved by the Utility Regulator.

William Steele, director of Power NI customer solutions, said: “We work hard to keep our prices as low as possible. However, wholesale prices remain high and significant increases in third party market operation and network related costs have regrettably necessitated a tariff increase.

"In these challenging times, we have held off changing prices for as long as possible and we have been able to keep our tariffs below the equivalent GB and RoI average.”

Power NI said customers can help reduce the impact of this tariff increase by ensuring they are on the best payment plan for their needs. This includes choosing options like paying by Direct Debit and registering for online billing which include extra discount.

"We value our customers, and we are continuing to work closely with our charity partners and other key stakeholders across our local communities to provide support to those in need. We have a range of support available from tariff advice to energy saving tips and account support, so if anyone is worried about paying bills, please contact us directly, we are here to help,” added Mr Steele.

Laren Smyth, director of Infrastructure and Sustainability at the Consumer Council said: “From December, over 500,000 homes in Northern Ireland will see their annual electricity cost rise to just under £990 a year for a typical credit customer and just under £965 a year for a typical keypad customer.

"While this is unwelcome news, we are aware the main driver for this is an increase to market operation and network costs, unfortunately this is being passed unto consumers.

"This is the first tariff increase from the regulated Power NI in two years and the Consumer Council work closely with the Utility Regulator to ensure consumers are protected and supported, and no unnecessary costs are added, or additional profits are made by the supplier.

“We know from our research that most consumers in Northern Ireland are still really worried about home energy prices. We urge anyone who is struggling to pay their electricity bills or top-up their keypad meters to contact their supplier directly for help and support.

"We would also encourage consumers to think about the way they pay for their energy and see if they can reduce their energy costs.

"Being on a standard tariff and paying on receipt of a bill is the most expensive way to pay for your electricity. Switching payment option, changing billing method or even switching supplier can save some money” added Karen.

The Consumer Council’s website has a free independent energy price comparison tool which empowers consumers to compare all electricity and gas tariffs across Northern Ireland in one place. Electricity price comparison tool | Consumer Council

Since the beginning of 2024 over 123,000 consumers have used this tool to get the best deal.