Cheapest electricity rate in Northern Ireland revealed as government energy bill discount scheme comes into effect

An updated price comparison chart, published by the Northern Ireland Consumer Council, shows that electricity prices can vary wildly between the myriad rates and discounts offered by the five providers – with some customers likely to pay more than double what others will pay for the same usage.From Tuesday onwards, the UK government is stepping in to place a limit on the sums companies can charge ordinary consumers for each unit of energy. The companies can still charge over-and-above the price cap, but the difference between the companies’ actual rate and the bills that ordinary consumers will see is now being paid by the the state in order to help households through the winter.

The price comparison table published on Tuesday by the Northern Ireland Consumer Council shows that the cheapest electricity, as of November 1, is now being offered by Electric Ireland with its ‘Simpler Living Discount’ which involves a monthly direct debit and electronic, rather than postal, billing. For a household using 3,200 kWh in a year, the annual cost under this Electric Ireland discounted rate would be £432 – a figure that includes a 10% discount for online billing, and a £100 bonus for signing up. The package does include, however, a £40 exit penalty for switching to another provider within 12 months.The most expensive rate, meanwhile, is Budget Energy’s ‘Keypad Standard 24 hour’ service with an annual cost of £1,104 for the same 3,200 kWh usage.

Peter McClenaghan, director of infrastructure and sustainability at the Consumer Council, said: “Consumers in Northern Ireland will welcome the Energy Price Guarantee as it will reduce their electricity and gas bills.

“The scheme will apply a discount to the unit prices of electricity and gas and all suppliers will apply the same discount. This means some energy suppliers’ prices will still be much higher than others, so we are encouraging consumers to think about switching supplier or tariff as some households could make savings of over £500.”