Budget Energy is to reduce its prices for consumers by 5%.

SDLP Spokesperson for Enterprise, Trade & Investment Patsy McGlone MLA welcomed the news and confirmed it is the first power firm in Northern Ireland to announce a price reduction.

However, he is urging all energy companies to follow the example set by Budget Energy and have their prices reflect those on the international market.

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Mr McGlone said: "This pledge from Budget Energy marks a welcome step from a local power company. They have obviously taken the legitimate expectations of their consumers seriously and have taken this step to ensure that their service is both ethical and fair.

"The public need to know that a necessity service like electricity provision is fairly priced and not subject only to the discretion of energy companies."

(CD/MH)