The impact of the recession on wholesale costs a key driver for gas bill reduction, says Regulator

The Utility Regulator today welcomed the news that Phoenix Supply Ltd is to decrease its tariffs by 19%. This is the second reduction in Phoenix bills during 2009, following a 22.1% decrease at the start of the year.

Chief Executive, Iain Osborne said:

“Active regulation is playing its part to help Northern Ireland households and small business weather the recession.  We have acted quickly to make sure recent falls in wholesale gas prices are fully passed on to the consumer.

“We made a commitment last year to ensure that cost reductions would be fully and quickly reflected in gas bills paid by Northern Ireland consumers.  This announcement delivers on that undertaking. 

“The reduction reflects a further fall in wholesale gas costs, largely caused by the economic downturn and improved gas supply infrastructure into the UK.

“Gas customers in the Greater Belfast area are now paying bills that are back to 2006 levels, and that compare favourably to RoI and to the rest of the UK.”

ENDS


Notes to Editors

1. The Northern Ireland Authority for Utility Regulation (the Utility Regulator) is the non-Ministerial Government Department responsible for regulating the electricity and gas industries and water and sewerage services in Northern Ireland.

2. Further information in terms of a briefing paper explaining tariffs document and a questions and answers document are attached.

3. Media contact Greg Irwin 07794 965911 or 028 90 316348.