The Utility Regulator has welcomed the news that Phoenix Supply Ltd is to make no change to its gas prices.
Chief Executive, Iain Osborne said:
“The decision by Phoenix Supply Ltd to leave prices as they are is a good outcome for consumers at this time, as we enter the winter and as higher inflation puts further pressure on household finances.
“This means that gas customers in the Greater Belfast area continue to pay a lower standard gas tariff than the Republic of Ireland, and this is among the lowest in the UK.
“The no change announcement is the outcome of a mid-year review carried out by the Utility Regulator and Phoenix Supply Ltd. The outlook for gas prices is uncertain and indeed there is some evidence that wholesale gas costs will rise, raising the prospect of future increases to consumer bills.
“We will continue to monitor prices and exercise our role on behalf of consumers, ensuring that the prices paid by gas customers in Northern Ireland are as low as possible.”
The decision to make no change to Phoenix Supply Ltd’s domestic tariff was made in consultation with the Department of Enterprise, Trade and Investment and the Consumer Council for Northern Ireland.
ENDS
For further information, contact Adele Boyle on 028 9031 6343 or 07794 965922.
Notes to Editors
• The Utility Regulator (Northern Ireland Authority for Utility Regulation) is the independent non-Ministerial Government Department responsible for regulating the electricity and gas industries and water and sewerage services in Northern Ireland.
• In April 2010, a tariff was set for the year until March 2011. This no change announcement is the outcome of a mid-year review.