Power NI, Northern Ireland’s largest electricity supplier, has announced an increase in prices of 21.4% from 1 January 2022.
This is the second price increase Power NI have announced this year and although it was expected the size of the price rise will worry many families especially as it comes in the middle of winter.
What impact will the price increase have?
With Power NI supplying over 453K customers across Northern Ireland, which is around 55% of all homes, it means most people will now face much higher electricity bills.
So, what does 21.4% actually mean in terms of higher prices? Well, an average Power NI bill is set to increase by £131 to £741 per year*.
And this is the second prise rise announced this year by Power NI which means Power NI customers are paying more for their home electricity.
- 1st July 2021: Power NI prices increased by 6.9% adding £40 to the average bill
- 1st Jan 2022: Power NI prices will increase by 21.4% adding £131 to the average bill
So, if you have been a Power NI customer this year, prices including this latest announcement, have increased by 28.3% adding £171 to an average bill. Off course, it’s important to remember other suppliers have also increased prices, but the fact is switching suppliers could have saved you money.
What Power NI have said…
Power NI have said the price increase reflects increased network and market charges that are outside their control and these have been agreed with the Utility Regulator.
William Steele, Director, Power NI Customer Solutions, said:
“We work very hard to keep our prices as low as possible, but regrettably there has been a rapid and sustained increase in wholesale gas prices over recent months. Like other suppliers, we have no choice but to pay these increased costs, which feed into the cost of wholesale electricity and have a knock-on effect on our tariffs.
In these challenging times and with such a volatile market, we held off making this change for as long as possible, with this price change not coming into effect until January 2022. As soon as we see an opportunity to reduce prices, we will do so without delay.”
Get in touch with your energy supplier
As everyone realises, we are living in uncertain times. It’s important to get in touch with your energy supplier to discuss any payment issues or concerns and help manage your account. Even providing an up-to-date meter read can make sure your payments are accurate and up to date.
Finding a better deal…
Yes, all suppliers have been increasing prices – but not to the same degree. There is a different of almost £300 between the most expensive and most competitive electricity deal in Northern Ireland.
If you are looking to offset the price increase the quickest and easiest way to do so is to compare suppliers and switch to a cheaper deal using on www.powertoswitch.co.uk
At ‘Power to Switch’ we compare all tariffs and deals across all electricity suppliers to save you money. Switching is quick, hassle-free and means you keep more money in your pocket. You don’t even have to tell your old supplier you are leaving!!!
For more information, advice and support on energy issues visit www.powertoswitch.co.uk or follow us on facebook or twitter
* From 1st Jan, the typical annual bill for a Power NI customer on the Standard Home Energy tariff, with typical consumption of 3,200 kWh will be £741. Figures are inclusive of VAT.
