Electric Ireland will decrease its electricity tariff by 9.2% from 1 April 2023. This follows a 23.9% tariff increase on the 1 January 2023.
This price reduction coincides with the UK Government’s announcement that the rate of EPG is reducing in Northern Ireland from 13.608p/kWh to 3.77p/kWh (excluding VAT) for electricity, meaning that consumer’s bills will increase despite the price reduction announced by Electric Ireland. As a result, the typical Electric Ireland customer will see their bills increase by around £191.
Raymond Gormley, Head of Energy Policy at The Consumer Council, said: “It is welcome news that wholesale energy costs are coming down, allowing Electric Ireland to announce a price reduction for its customers. However, as this is happening at the same time as changes to the level of the Energy Price Guarantee, consumers’ bills will increase by around 18%.
This strange situation is happening because the additional back-dated EPG support consumers here are receiving, is ending. The additional support had been provided because the EPG was introduced later in Northern Ireland.”
Electric Ireland has confirmed that any customers who choose to switch to another supplier before 22 April 2023 will not be charged.