Both Power NI and SSE Airtricity Gas have announced decreases to their tariff rates that will kick in from 1st April.
The announcement of further prices decreases from Power NI and SSE Airtricity Gas will be welcomed by consumers across NI. This latest move comes on the back of several energy suppliers already reducing prices from 1st March.
Power NI changes
Power NI customers will see tariffs decrease by 6.3% from 1st April 2024. Power NI remain the largest electricity supplier to homes in Northern Ireland, supplying almost 6 in 10 homes. This latest decrease will mean for a customer with a credit meter their typical annual electricity bill will reduce by around £64 and a typical prepayment (PAYG) customer will see their annual electricity bill reduce by around £62 a year.
SSE Airtricity Gas changes
Similarly to Power NI, SSE Airtricity Gas will decrease their tariff by 22.8%, beginning 1st April 2024. This means the annual gas bill of a typical household in the Greater Belfast and West gas networks with a credit meter, will reduce by about £320 per year. For those customers with a prepayment gas meter (PAYG) in the Greater Belfast and West networks, they will see their typical costs reduce by around £316
What do these changes mean for my energy deal?
A reduction in energy bills for consumers is to be welcomed but we must also remember that these reductions are coming off record high prices. For example, with this latest price drop an average annual bill for a Power NI customer will be around £950. However, back in April 2021 an average annual bill would have cost around £570. So, this shows that we still have a long way to go to see bills fall back to more normal levels.
It is important consumers look beyond price drops to find a better deal. It is true that many suppliers have reduced their headline (or standard) price, and it is likely we will see more announcements over the next coming months. However, suppliers often adjust the level of discount they offer to new customers or even offer cashback or welcome credit.
Can I do anything else to save more money?
For many people, the fastest and simplest way to save energy on your bill is to simply switch energy deals. On average, over the past 12 months, customers who switched deals with Power to Switch saved £391 on their annual bills, and if you haven’t switched in the last 12 months, the likelihood is that you’re already paying more than you should.
For more information, advice and support on energy issues visit www.powertoswitch.co.uk or follow us on facebook or twitter
* Based on Bill Pay and Keypad Standard 24Hr tariff and 3,200 kWh annual usage
