Power NI, Northern Ireland's only price regulated domestic electricity supplier, announced on 14 October 2022 that its residential prices will fall from 1 November 2022 under the UK Government's Energy Price Guarantee (EPG)1. The company said customers will see a 10 per cent reduction in their bills, equating to a saving of £97 for the average customer1.
The reduction follows a review with the Utility Regulator which concluded that a tariff increase was necessary1. Power NI said the EPG discount more than offsets that underlying rise, so the billed tariff level falls rather than rises1. The company said it had not increased its unit rate for residential customers since July 2022, despite continued upward pressure on energy prices1.
William Steele, Director of Power NI Customer Solutions, said:
"Although we now must substantially increase our underlying price to reflect the current market, the implementation of the EPG will mean our customers will see a reduction in their billed tariff level of 10%."
The £97 figure is based on typical annual consumption of 3,200 kWh including 5 per cent VAT, which Power NI gives as £846.721. The company also set out separate discounts: monthly direct debit customers receive 4 per cent off the standard rate, up to £10 per quarter, and Energy Online sign-ups a further 2 per cent, up to £5 per quarter, giving a maximum combined saving of £60 a year for a customer spending £250 each quarter1. Keypad customers receive a 2.5 per cent discount with every top-up, plus free electricity on top-ups of £50 or more made through the app or website1.
| Item | Detail |
|---|---|
| Effective date | 1 November 2022 |
| Billed tariff change | 10% reduction |
| Average customer saving | £97 |
| Typical annual consumption | 3,200 kWh including 5% VAT |
| Typical annual bill | £846.72 |
Why it matters for households
For a household in Northern Ireland, this is a billed rate cut at a time when prices elsewhere were rising sharply. Power NI is the only domestic electricity supplier in Northern Ireland whose tariffs are set through a regulatory formula, which the company describes as an additional level of safeguarding1. That means the movement in its rates is tied to a review process rather than set freely by the supplier.
The practical effect is that the underlying cost of electricity is being reduced by government support rather than by a fall in wholesale prices. The company's own account makes the distinction plain: the market-driven increase is real, and the EPG discount is what turns it into a reduction at the meter1. For a home's energy independence, the episode shows how exposed a single regulated tariff is to both market movement and the terms of a support scheme, and that the two can pull in opposite directions.
Separately, Power NI said it is working with the UK Government and the Northern Ireland Utility Regulator to apply the Energy Bill Support Scheme £400 credit to customers' electricity accounts as soon as possible1. The company also said it continues to engage with the UK Government on an Energy Bill Relief Scheme for non-domestic customers1.
What happens next
The new rates take effect on 1 November 20221. No date has been given for when the £400 Energy Bill Support Scheme credit will be applied to Power NI accounts; the company says it is working to do so as soon as possible1.