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Phoenix gas bills are set to fall Phoenix gas bills are set to fall
(about 2 hours later)
The price of household gas in Northern Ireland is to drop on 1 October.The price of household gas in Northern Ireland is to drop on 1 October.
Phoenix Gas has announced a 19% reduction in prices. That will mean the average domestic gas bill will fall by £104 a year.Phoenix Gas has announced a 19% reduction in prices. That will mean the average domestic gas bill will fall by £104 a year.
It is the second reduction in Phoenix bills during 2009, following a 22.1% decrease at the start of the year. In 2008 consumers saw prices rise by 50%.It is the second reduction in Phoenix bills during 2009, following a 22.1% decrease at the start of the year. In 2008 consumers saw prices rise by 50%.
The Utility Regulator said it had acted quickly to make sure recent falls in wholesale gas prices were passed on.The Utility Regulator said it had acted quickly to make sure recent falls in wholesale gas prices were passed on.
"The reduction reflects a further fall in wholesale gas costs, largely caused by the economic downturn and improved gas supply infrastructure into the UK," said Chief Executive Iain Osbourne."The reduction reflects a further fall in wholesale gas costs, largely caused by the economic downturn and improved gas supply infrastructure into the UK," said Chief Executive Iain Osbourne.
"Gas customers in the Greater Belfast area are now paying bills that are back to 2006 levels, and that compare favourably to the Republic of Ireland and to the rest of the UK.""Gas customers in the Greater Belfast area are now paying bills that are back to 2006 levels, and that compare favourably to the Republic of Ireland and to the rest of the UK."
Phoenix Supply General Manager David Strahan said the company was committed to passing on savings to consumers. Phoenix Supply General Manager David Strahan said: "At the start of the year I made a commitment to our customers that if wholesale gas cost fell we would pass on that reduction to our customers and today, wholesale gas costs have fallen and we have kept our promise."
"We are delighted that Phoenix is the first major UK gas supplier to be able to announce two substantial price reductions this year," he said. He said he recognised that last year was "particularly difficult" for their customers but said the company had introduced the prices cuts as soon it could.
"We were the first UK supplier, and indeed in Ireland as well, to pass on a major reduction at the start of this year, and this second reduction - we are the first UK supplier to pass on a second reduction this year" he added.
The chief executive of the Consumer Council said the announcement was "good news".The chief executive of the Consumer Council said the announcement was "good news".
"In 2008 Phoenix customers suffered from significant increases on their bills, which caused the Consumer Council serious concern," said Antoinette McKeown."In 2008 Phoenix customers suffered from significant increases on their bills, which caused the Consumer Council serious concern," said Antoinette McKeown.
"Thursday's decrease reduces gas prices to a level lower than in 2006 and puts a price in place for the next 18 months, bringing much-needed stability for many consumers.""Thursday's decrease reduces gas prices to a level lower than in 2006 and puts a price in place for the next 18 months, bringing much-needed stability for many consumers."