Power NI has announced today that it will reduce its domestic tariff by 6.3 per cent.

The residential unit's price has been reduced as a result of declining wholesale market expenses. This marks the fourth consecutive reduction for the supplier, set to come into effect on April 1, 2024. On average, customers can anticipate additional annual savings of £64. This is calculated using the Power NI standard Home Energy unit rate and an average usage of 3,200 units (kWh) per year.

William Steele, Director, Power NI Customer Solutions, said:

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"As wholesale prices in the global market have fallen, Power NI has been able to deliver yet another decrease in unit prices for our customers, with our fourth consecutive tariff reduction.

"Despite market volatility we have been able to keep our tariffs below the equivalent GB and RoI average, enabling us to continue to provide stability and delivering hundreds of pounds in savings for local households over the last year.

"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."

Power NI is the only domestic electricity supplier in Northern Ireland who is price-regulated, providing customers with an additional level of safeguarding, as tariffs are only adjusted through a Utility Regulator approved process.