This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/northern_ireland/8255961.stm
The article has changed 8 times. There is an RSS feed of changes available.
| Version 5 | Version 6 |
|---|---|
| 5% power price cut 'not enough' | 5% power price cut 'not enough' |
| (about 3 hours later) | |
| Customer savings from a 5% electricity price cut will be "negligible", the Consumer Council has said. | Customer savings from a 5% electricity price cut will be "negligible", the Consumer Council has said. |
| Electricity is falling next month for the second time this year, following a 10.8% drop in January. | Electricity is falling next month for the second time this year, following a 10.8% drop in January. |
| The new rates mean a £26 reduction in the average bill. The Consumer Council said it only represented 50p a week and fell short of customer expectations. | The new rates mean a £26 reduction in the average bill. The Consumer Council said it only represented 50p a week and fell short of customer expectations. |
| Also on Tuesday, natural gas supplier Firmus Energy announced a 17.7% reduction in their domestic tariffs. | Also on Tuesday, natural gas supplier Firmus Energy announced a 17.7% reduction in their domestic tariffs. |
| It will mean savings of £96 for customers in the 10 towns they supply. | It will mean savings of £96 for customers in the 10 towns they supply. |
| Kerstie Forsyth of NIE Energy says the lower tariffs will apply from next month | |
| Northern Ireland Electricity said taken alongside the previous reduction, its latest cut would see bills for "typical electricity users" fall by £89. | Northern Ireland Electricity said taken alongside the previous reduction, its latest cut would see bills for "typical electricity users" fall by £89. |
| Kerstie Forsyth from NIE Energy said the company would continue to pass on savings to customers. | Kerstie Forsyth from NIE Energy said the company would continue to pass on savings to customers. |
| "We did a mid-year review in January because we saw there were some savings there and we passed those back to customers without a delay," she said. | "We did a mid-year review in January because we saw there were some savings there and we passed those back to customers without a delay," she said. |
| Disappointed | Disappointed |
| "If there is any opportunity, we'll be making another announcement if there are savings to be had." | "If there is any opportunity, we'll be making another announcement if there are savings to be had." |
| Antoinette McKeown, chief executive of the Consumer Council, said that while the price drop was "welcome", savings to the customer would be "negligible". | Antoinette McKeown, chief executive of the Consumer Council, said that while the price drop was "welcome", savings to the customer would be "negligible". |
| "Coming after a 40% reduction in wholesale fuel over the last year and after Phoenix's decision last week to reduce bills by 19%, and Firmus today by 17.7%, consumers will understandably be very disappointed," she said. | "Coming after a 40% reduction in wholesale fuel over the last year and after Phoenix's decision last week to reduce bills by 19%, and Firmus today by 17.7%, consumers will understandably be very disappointed," she said. |
| The Utility Regulator said electricity prices in Northern Ireland had fallen more quickly than in other parts of the UK and the Republic of Ireland. | The Utility Regulator said electricity prices in Northern Ireland had fallen more quickly than in other parts of the UK and the Republic of Ireland. |
| "We have worked hard to make sure that bills reflect the cost of providing electricity to Northern Ireland consumers," said Iain Osborne. | "We have worked hard to make sure that bills reflect the cost of providing electricity to Northern Ireland consumers," said Iain Osborne. |
| "There continues to be volatility in the wholesale energy market, and the Utility Regulator will continue to monitor energy costs and act if necessary to secure lower prices for electricity consumers." | "There continues to be volatility in the wholesale energy market, and the Utility Regulator will continue to monitor energy costs and act if necessary to secure lower prices for electricity consumers." |
| He explained that while wholesale and generation costs have been reduced by 31%, this does not equate to a similar reduction in consumer electricity bills as the generation costs only made up 72% of the typical electricity bill in October 2008. | He explained that while wholesale and generation costs have been reduced by 31%, this does not equate to a similar reduction in consumer electricity bills as the generation costs only made up 72% of the typical electricity bill in October 2008. |
| Other factors which limited the size of the reduction were a fall in demand which increased NIE's costs and the weakness of sterling. | Other factors which limited the size of the reduction were a fall in demand which increased NIE's costs and the weakness of sterling. |