Power NI has announced a 13.8% increase in its electricity tariff which will come into effect from 1st October 2018 – taking the total power bill to £565 a year.
The Utility Regulator, however, said Power NI’s domestic tariff will continue to be around 15% lower than the average electricity bill in Britain.
Power NI added the increase is being driven by rising fuel costs used in electricity generation such as gas, which has risen by 30% in the last year.
Stephen McCully, Managing Director of Power NI said: “Putting our prices up is the last thing we want to do but unfortunately we are at the mercy of fluctuating world fuel prices. Gas, the main fuel used to generate electricity here, has increased significantly by 30% since we last set out prices.
“We’ve worked through a rigorous process with the Utility Regulator and our customers can be sure that although unwelcome, this increase is as low as possible and our prices are still cheaper than they were five years ago.”