Utility Regulator comments following formal review of regulated energy tariffs

The Utility Regulator has concluded its formal tariff review of the three regulated energy suppliers - Firmus Energy (Ten Towns area), SSE Airtricity Gas Supply (Greater Belfast and Western areas) and Power NI.

This has resulted in a decrease of 7.56% in the Firmus Energy (Ten Towns area) domestic gas tariff from 1 October 2023, and no change in the SSE Airtricity Gas Supply tariff and Power NI’s domestic electricity tariff.

This announcement marks the formal conclusion of reviews undertaken by the Utility Regulator and the three regulated suppliers, in consultation with the Department for the Economy and the Consumer Council for Northern Ireland.

This means that regulated electricity and gas tariffs in Northern Ireland will compare as follows to Great Britain and the Republic of Ireland:

Commenting on the reviews, John French, Utility Regulator Chief Executive, said:

“We have now completed our formal review of the costs in providing gas and electricity to homes and businesses across Northern Ireland. This has concluded that a 7.56% decrease is needed to Firmus Energy’s Ten Towns domestic gas tariff, and that no further changes are needed to SSE Airtricity Gas Supply’s regulated gas tariff and Power NI’s domestic electricity tariff from 1 October 2023.

“This means that the average domestic gas bill in Firmus Energy’s Ten Towns licence area will decrease by approximately £112 per year. We will continue to actively monitor wholesale energy and network costs and will ensure any falls in costs are passed through to customers at the earliest opportunity.

“Any household that is worried about paying their energy bill, should contact their gas or electricity supplier in the first instance, to make them aware of their circumstances, and discuss the options available. In addition, there are several agencies who can provide free and independent advice to households, including Advice NI, Christians Against Poverty and Money and Pensions Service’s MoneyHelper.”

A briefing paper has been published. 

Additional information: 

• Media contact: Adele Boyle, 07787 279584.
• From July 2023, the discount applied to electricity and gas tariffs, through the UK Government’s Energy Price Guarantee Scheme (EPG), was removed and remains at zero. The unit rate discount was funded by the UK Government and began in Northern Ireland on 1 November 2022. It applied across the UK to all electricity and gas suppliers’ standard variable tariffs. The EPG remains in place as a safety net until the end of March 2024, should energy prices increase significantly during this period.
• The Utility Regulator only regulates Firmus Energy’s tariff in the Ten Towns area.
• The tariff reviews commenced in July 2023.
• The Consumer Council’s website has energy advice for consumers and also provides an independent energy price comparison tool to help consumers save money.
• A number of agencies can provide free and independent advice, including Advice NI, Money and Pensions Service and Christians Against Poverty. 
• The RoI annual gas bill figure of £1,746 is calculated using the published Bord Gais standard credit tariff figures with annual consumption level of 12,000 kWh.

[1] Based on 3,200kWh consumption

[2] Based on 12,000kWh consumption

[3] The NI and Price Cap dual fuel costs both use consumption figures of 3,200kWh for electricity and 12,000kWh for a standard tariff customer. The Price Cap figure of £1,923 uses consumption rates of 2,900kWh for electricity and 12,000kWh for a direct debit customer.