Gas bills fall. Could electricity charges be next?

Gas bills fall. Could electricity charges be next?

Gas costs for firmus energy customers in the Ten Towns area are to fall by just over 21% from the start of April.

The price cut applies to 46,000 homes and small businesses. 

Around two thirds of the latest reduction is due to a collapse in wholesale gas charges. Prices have fallen because of a glut of natural gas on world markets, a development which has been accentuated recently by a coronavirus-driven drop in demand for the fuel.

The remainder is accounted for a decrease in distribution costs. 

It’s the second time in six months that fiirmus charges have come down. Taken together the two decreases come close to 30%. 

Firmus haven’t said yet what will happen to bills for their customers in Greater Belfast but an announcement is due imminently. 

Domestic gas customers of SSE Airtricity in Greater Belfast and the west of Northern Ireland will learn tomorrow how the fall in wholesale gas costs will affect what they pay. 

Wholesale gas costs have a major impact on electricity charges. A review has begun of Power NI’s tariff. Once complete, customers will find out what, if anything, it means for their bills.

Last updated on 06/05/2020

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