Power NI reveals price hike plans

26/08/11

Dan Smith

Householders in Northern Ireland are bracing themselves for energy price rises, after electricity supplier Power NI revealed it plans to increase bills.

Both individual and business customers will be hit by the 18.6 per cent price rise, which the company blamed on growing wholesale fuel costs.

Following the company's announcement, the Northern Ireland Independent Retail Trade Association raised concerns, while the Consumer Council also highlighted the "massive blow" many consumers will now be dealt.

On an average basis, people's yearly bills will go up by nearly £100 once the higher prices come into force.

Commenting on his firm's pricing decision, Stephen McCully, managing director of Power NI, said: "We have been faced with steadily rising wholesale gas and oil prices over the last two years and we can't hold our prices any longer."

At present, around 35,000 farm and business customers are served by Power NI.

Meanwhile, the firm supplies power to 720,000 of the country's households.