NI Utility Regulator reviewing gas and electricity tariffs

Northern Ireland's Utility Regulator is reviewing gas and electricity tariffs that could lead to a cut in prices later this year.

The reviews will conclude during February to allow any changes to bills to take effect from 1 April.

The regulatory framework for energy in NI means movements in wholesale costs should be reflected in consumer bills.

Wholesale gas prices, a major component in both gas and electricity bills, have been falling in recent months.

In a statement the regulator said: "As the regulator of Power NI we continuously monitor the components that make up the company's electricity tariff.

"Separately we have also been progressing a review of regulated gas tariffs - in respect of Airtricity Gas Supply (for the greater Belfast area) and Firmus Energy (for the ten towns area)."