Watchdog investigates Northern Ireland power prices

Northern Ireland’s energy regulator is looking at whether drops in wholesale prices have been passed onto billpayers. Uregni announced today it will review the supplier Power NI’s electricity tariffs. In […]

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By Vicky Ellis

Northern Ireland’s energy regulator is looking at whether drops in wholesale prices have been passed onto billpayers.

Uregni announced today it will review the supplier Power NI’s electricity tariffs.

In Northern Ireland, the rules require movements in wholesale costs are reflected in consumer electricity and gas bills.

Uregni expects to finish its review in February to allow any changes to bills to take effect from 1 April.

Around the same time it will wrap up a similar review of the gas tariffs from two suppliers, Airtricity Gas Supply and firmus energy, for their prices respectively in Greater Belfast and Ten Towns.

A Power NI spokesperson said: “We are monitoring world fuel and market prices very closely and have observed some encouraging signs particularly in respect of lower gas prices, which if sustained, should lead to lower electricity generation prices.”

UK Chancellor George Osborne said this week the Treasury will investigate gas and power prices.