Power NI hikes up its electricity bills blaming 'significant increases in third party market operation'
Electricity company Power NI has hiked up its bills.
It will increase its tariff for home electricity by 4% from December 1.
This means a typical Power NI customer with a credit 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 Consumer Council said this will affect some 500,000-plus homes in Northern Ireland, bringing their annual electricity cost rise to just under £990 a year for a typical credit customer, and just under £965 a year for a typical keypad customer.
Power NI issued a statement from William Steele, director of customer solutions, saying: “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.
“We value our customers, and 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.”
Karen Smyth, the director of infrastructure and sustainability at the Consumer Council, said: “While this is unwelcome news, we are aware the main driver for this is an increase to market operation and network costs, unfortunately this is being passed unto consumers.
“This is the first tariff increase from the regulated Power NI in two years and the Consumer Council work closely with the Utility Regulator to ensure consumers are protected and supported, and no unnecessary costs are added, or additional profits are made by the supplier.
“We know from our research that most consumers in Northern Ireland are still really worried about home energy prices. We urge anyone who is struggling to pay their electricity bills or top-up their keypad meters to contact their supplier directly for help and support.
“We would also encourage consumers to think about the way they pay for their energy and see if they can reduce their energy costs.
“Being on a standard tariff and paying on receipt of a bill is the most expensive way to pay for your electricity. Switching payment option, changing billing method or even switching supplier can save some money.”