Budget Energy, Northern Ireland’s third largest electricity supplier, has announced a price decrease of 9% for their domestic electricity customers on variable rates.
This decrease will be effective from 1 March 2024 and will see around £117 savings for a typical customer with a standard rate credit meter and around £114 savings for a typical customer with a standard rate keypad meter.
Raymond Gormley, Head of Energy Policy at the Consumer Council, said:
“This price decrease is a step in the right direction, given the cost-of-living pressures many households in Northern Ireland continue to experience.
“However, while this announcement will mean a second reduction for Budget Energy customers in three months, electricity prices remain significantly higher than the pre-pandemic norm.
“Now that there is some change in electricity prices, we encourage consumers to use our free online Energy Price Comparison Tool to check that they are on the best deal or if they could save money by switching supplier, billing method or tariff.
“We also urge anyone who is struggling to pay their energy bills or top-up their meters to contact their supplier directly for help and support."
The Consumer Council’s website also has information on how to run your home more energy efficiently to save money: Energy efficiency | Consumer Council
• 9% decrease figure on variable rates provided by Budget Energy. Standing charges are unaffected. Fixed price tariffs are also unaffected.
• Budget Energy has 94,878 domestic electricity customer connections as per the Utility Regulator, Quarterly Retail Energy Market Monitoring Report, Quarter 3: 01 July to 30 September 2023, published 12 December 2023.
• Budget Energy’s last tariff reduction was an 8% decrease on all variable rates from 1 Dec 2023.
The Consumer Council is an independent consumer organisation, working to bring about change to benefit Northern Ireland’s consumers. The Council campaigns for high standards of service and protection and a fair deal for all. It also carries out research, gives advice and publishes reports and other publications. It deals with individual complaints about transport, natural gas, electricity, coal, postal services and water.