Power NI have announced a 6.9% price increase for domestic electricity customers which will kick in from 1st July 2021.
Normally, as we come into summertime energy use in the home starts to drop…but with ongoing restrictions and many people continuing to work from home our energy use remains high. So, this latest price increase will be unwelcome news for customers.
What impact will the price increase have?
With Power NI supplying over 451k customers across Northern Ireland, around 55% of all homes, it means most people will now face higher electricity bills.
So, what does 6.9% actually mean in terms of higher prices? Well, from the 1st July an average Power NI bill is set to increase by £39 to £610 per year*.
The latest announcement follows a price decrease in 2019 (when there was a 4.8% decrease) but the trend over the last few years does mean Power NI customers are paying more for their home electricity.
- October 2017: Power NI prices increased by 5.6% adding £27 to an average bill
- October 2018: Power NI prices increased by 13.8% adding £69 to an average bill
- October 2019: Power NI prices increased by 6.1% adding £35 to an average bill
- July 2020: Power NI prices decreased by 4.8% reducing the average bill by £29
- July 2021: Power NI prices will increase by 6.9% adding £39 to the average bill
So, if you have been a Power NI customer over the last five years prices, including this latest announcement, have increased by 27.6% adding £142 to an average bill. Of course, it’s important to remember other suppliers have also increased prices, but the fact is switching suppliers would have saved you money.
What Power NI have said…
Power NI have said the price increase, which has been agreed with the Utility Regulator, reflects increased wholesale fuel charges that are outside their control.
William Steele, Director, Power NI Customer Solutions, has said ‘We [PowerNI] work very hard to keep our prices as low as possible, but regrettably world fuel prices have been increasing over recent months’
He added “In these challenging times we held off making this change for as long as possible, with this price change not coming into effect until July. As soon as we see an opportunity to reduce prices, as we did last year, we will do so without delay. For any customers who are worried about paying a bill, there is no need to be concerned, please get in contact as we can help you.’
How to beat the price increases
If you have never switched or it’s been a while you will save money by switching your electricity supplier or tariff.
On average customers who switched their electricity supplier with Power to Switch saved £143 on their annual electricity bill – that would wipe out the impact of the price increases over recent years.
At Power to Switch, we’re passionate about switching because it saves you money. This year alone we have saved people in Northern Ireland over £275,000 by helping them to switch to better deals
Finding a better deal…
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!!!
At Power to Switch we make this easy. We compare all suppliers, tariffs and deals across Northern Ireland and can get your switch started in no time. It’s free and only takes around 3 minutes to compare deals and find savings.
Don’t put up with rising prices. Switch energy suppliers with www.powertoswitch.co.uk and start saving.
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*From 1st July, the typical annual bill for a Power NI customer on the Standard Home Energy tariff, with typical consumption of 3,200 kWh will be £610. Figures are inclusive of VAT.
