The latest Quarterly Transparency Report (QTR) for Quarter 3 (July to September 2016) is published today.
We publish retail transparency reports at the end of February, May, August and November each year. The reports provide a range of information about the electricity and gas supply energy markets in Northern Ireland. The QTR presents data collected as part of the Retail Energy Market Monitoring (REMM) framework. REMM requires network companies and suppliers to submit data on a range of indicators to ensure regulatory compliance. EU pricing comparative data within the report is sourced from Eurostat.
We use the information outlined in the report to review the progress and impact of supply competition; build knowledge for regulatory decisions; comply with EU Third Package mandatory requirements on market monitoring; allow other interested stakeholders to understand more readily the activity within our energy markets; and to help promote the interests of consumers.
The report includes updated electricity pricing comparisons between EU, GB, RoI and NI for the first semester of 2016 (January to July) with the following key trends:
- NI domestic prices lie below the RoI and are just above the EU Median and UK average;
- The Industrial and commercial (I&C) electricity pricing data for Semester 1 2016 illustrates that the Very Small connections, which represent 66% of I&C connections is now considerably lower than the EU Median at 12.8 p/kWh. For this category NI is also lower than the UK average and considerably less than the RoI; and
- Prices in all I&C categories in NI are now equal to, or below I&C prices in the UK. Also, the vast majority of I&C customers (c98%) have prices lower than the RoI.
On the gas side the report illustrates the price drops for SSE Airtricity and firmus energy (the incumbent price controlled gas suppliers) which came into effect during Semester 1 2016. Both the Greater Belfast and Ten Towns domestic gas prices are considerably lower than RoI and the EU Median at 3.93 p/kWh and 4.51 p/kWh respectively.
The regulated supply tariffs were reviewed in August across electricity (Power NI) and gas (SSE Airtricity and firmus supply) which resulted in no change for the regulated tariffs for the forthcoming winter period.
This ensures price stability for domestic customers this winter however, going forward into 2017, this will continue to be reviewed pending movements in the wholesale market cost.
Any comments or queries in relation to this paper should be made to:
Seán Murphy
Utility Regulator
Queens House
14 Queen Street
Belfast BT1 6ED
Direct Tel: +44 (0) 28 9031 6332
Copies of all documents can be made available in large print, Braille, audio cassette and a variety of relevant minority languages if required.