Electric Ireland: Electricity provider set to cut prices

Electric Ireland is cutting electricity prices for customers in Northern Ireland by 15% from 4 June.

The change will affect around 55,000 residential consumers here.

The company said that these cuts will save an average of £206.64 per year for it's customers.

Electric Ireland is the latest provider in Northern Ireland to announce a reduction in energy costs for customers.

Northern Ireland customers should expect an email or postal letter from the company outlining the price reduction.

Raymond Gormley, Head of Energy Policy at the Consumer Council, said: "This price decrease is welcome news given the cost-of-living pressures many households in Northern Ireland continue to experience as energy prices remain significantly higher than the pre-pandemic norm.

"Now that all five of the suppliers have made reductions to their electricity prices, we encourage consumers to use our free online Energy Price Comparison Tool to check that they are on the best deal or if they could save money by switching supplier, billing method or tariff."

The announcement comes off the back of price reductions at Budget Energy which came into effect on 1 March.

Similarly, Northern Ireland's largest electricity supplier Power NI recently cut its prices by 6.3%, saving the average household £63 per year.

Power NI serves around 500,000 household customers and cut its prices three times during 2023.

While household energy bills are moving in the right direction for consumers, prices still remain higher than pre-pandemic levels.

Energy bills for most households saw a sharp increase when the The Energy Price Guarantee (EPG) Scheme came to an end in June 2023.