Power NI electricity customers to see 4% price increase

Power NI, who supply electricity to 6 in 10 homes in Northern Ireland, have announced a 4% price increase for domestic customers from 1 December 2024.

Over 500,000 Power NI customers will now see their bills increase at a time of year when we use most energy in our home. See below to find out more about how this price increase will impact on bills.

What does the price increase mean for customers?

As a result of this price increase, the typical* Power NI customer with a credit (bill pay) meter will see their bill rise by around £38 per year, while customers with a keypad (PAYG) meter will see a yearly increase of about £37.

The increase will mean that the annual electricity bill for a credit customer will rise to just under £990 and to just under £965 a year for a keypad customer.

Earlier this year, Power NI reduced its prices by 6.3% on April 1, 2024, lowering bills by about £62. While this latest price increase does not entirely offset the previous reduction, it does mean that bills will rise for customers over this oncoming winter season.

Despite this being Power NI’s first tariff increase in two years, bills remain significantly higher. For context, in April 2021, the average annual bill was around £570, highlighting how far we still are from returning to historical cost levels – or even suggesting that today’s prices might be the new normal.

The tariff change has been approved by the Utility Regulator and applies to domestic customers only.

What have Power NI said about the increase?

Power NI have commented that the 4% increase was a response to “market operation and network-related charges,” and would leave customers paying on average an extra 10p a day.

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

“We work hard to keep our prices as low as possible. However, wholesale prices remain high and significant increases in third party market operation and network related costs have regrettably necessitated a tariff increase.

In these challenging times, we have held off changing prices for as long as possible and we have been able to keep our tariffs below the equivalent GB and RoI average.”

Customers can help reduce the impact of this tariff increase by ensuring they are on the best payment plan for their needs. This includes choosing options like paying by Direct Debit and registering for online billing which include extra discount.

Switching to a better deal

At Power to Switch, we compare every tariff and deal from all electricity suppliers to help you save money. Switching is fast, hassle-free, and puts more money back in your pocket – no need to even notify your old supplier!

So far this year, Northern Ireland consumers who switched through powertoswitch.co.uk have saved over £2 million, and, on average, Power to Switch customers save £421 from their annual bills.

Compare your deal today with us.

* typical customer is based on an average household usage of 3,200 units (kWh) per year.
** Power NI price increase is reflected in results displayed on Power to Switch.