SSE Airtricity reduces its NI natural gas prices by 10%
SSE Airtricity, Northern Ireland’s largest provider of natural gas, has confirmed today it will reduce its regulated natural gas prices by 10%, saving a typical household customer £581 annually. This reduction follows an earlier average 8% price cut in April this year and brings to over £1001 the total annual saving that SSE Airtricity gas customers can enjoy compared with this time last year.
The 10% reduction announced today comes into effect from 1 October 2015.
SSE Airtricity is the regulated supplier of natural gas to 125,000 home and small business customers or 72% of the natural gas market in the Greater Belfast area.
This change to SSE Airtricity’s natural gas prices follows the half-yearly review2 by the company of the supply and operating costs of its regulated natural gas business which is conducted at this time every year in consultation with the Northern Ireland Utility Regulator. The company also consulted with the Department of Enterprise Trade and Investment (DETI) and the Consumer Council of Northern Ireland (CCNI) as part of the review.
Stephen Wheeler, SSE Airtricity Managing Director, commented:
“I’m pleased today that once again we’re announcing a further cut of 10% to our regulated natural gas prices, saving our household customers with typical usage £58 in their annual natural gas costs. The reduction follows the previous 8% cut we made to our natural gas prices in April. This means we’re continuing to deliver on our promise to make a real difference for our customers and in the last year we’ve delivered annual savings of over £100 to our gas customers.”
SSE Airtricity is a wholly-owned subsidiary of the FTSE-listed and Scotland based SSE plc.
1. Savings quoted based on a domestic household energy customer on standard credit tariffs with typical annual consumption of 12,500kWh for natural gas and inclusive of VAT. 10% reduction from 1 October 2015 equivalent to £58 per annum; average 8% reduction in April 2015 equivalent to £49 per annum. Figures rounded to the nearest Pound value.
2. SSE Airtricity’s regulated natural gas supply tariffs for its domestic and small business customers are reviewed annually as part of a detailed independent Price Control examination by the Utility Regulator of the company’s current natural gas supply and operating costs. Under this Price Control process the setting of SSE Airtricity’s regulated natural gas prices, including any changes to those prices, require the formal approval of the Utility Regulator.
3. The Price Control process allows for an interim or 6-month review by the Regulator of SSE Airtricity’s natural gas tariffs with any mid-year price changes, if required, taking effect from 1 October each year. Annual price changes, if they are to be applied, take effect from 1 April each year.
4. SSE Airtricity provides natural gas to 125,404 Domestic and Small Industrial & Commercial customers in the Greater Belfast area. Figures quoted based on latest Retail Market Monitoring Quarterly Transparency Report Q4 2014 published by the Utility Regulator, June 2015.