Power NI announces 14% price increase from April

POWER NI have announced that they will be increasing the average household energy bill by 14 per-cent from April 1, despite the company reducing tariffs.

This is due to the announcement yesterday that the Chancellor of the Exchequer will be reducing the energy price guarantee scheme next month.

Power NI said it would reduce its unit price by 16.2 per-cent from the beginning of April due to a fall in wholesale market costs. However, the company said a reduction in the EPG scheme of 10.33p per unit would see tariffs increase by 14 per-cent.

William Steele from Power NI said, “A decrease in wholesale energy prices has enabled Power NI to again reduce its underlying unit price.

“However, the recent change by the UK Government to its Energy Price Guarantee means that a lower level of scheme discount will be applied to all electricity bills.

“Unfortunately, this means customers will see a 14 per-cent increase in prices.”