Power NI changes
SSE Airtricity Gas changes
Similarly to Power NI, SSE Airticity Gas will decrease their tariff by 12.2%, beginning 1st July 2023. Again, as this coincides with the removal of the Energy Price Guarantee, customers will actually see an increase in their bills—around £134, to be exact. For those on prepaid meters, this will be £136.
What is the Energy Price Guarantee—and why is it ending?
The Energy Price Guarantee was only ever in place temporarily. In order to support customers during the winter, when the effects of high energy prices would be felt the most keenly, the government introduced an Energy Price Guarantee. This reduced the amount you are charged per unit of electricity and gas, and effectively subsidised the full cost of the energy. Effectively it subsidises the full cost of energy and is aimed at supporting households through the current cost of living crisis
While the original plan was to end this support from March 2023, it was extended to the end of June this year, albeit at a reduced rate.
Now, it has come to an end, and the price rises which were largely absorbed by the Energy Price Guarantee will come into place.
What do these changes mean for my energy deal?
Firstly, if you are a customer of Power NI or SSE Airtricity Gas, they mean that you could be paying more for your energy now, and will have to adjust your household budget accordingly.
Secondly—and more importantly—they could also mean that you could find a cheaper deal elsewhere.
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 £281 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.
Can I do anything else to save more money?
Saving money around your household could be as simple as turning off lights and devices when you aren’t using them, or as taxing as adding new insulation to your wall cavities. For all of tips and guidance, you can see our blogs: