Energy prices: SSE Airtricity's NI customers to see 6.3% price cut

SSE Airtricity says it will "continue to pass on savings" as soon as possible

Northern Ireland's second largest electricity supplier SSE Airtricity is cutting electricity prices by 6.3% for customers from 1 March.

The move will affect about 141,000 homes. The company said it will save the typical household about £74 a year.

This is the second decrease in the last six months, following a 7% cut in November last year.

The company said it will "continue to pass savings back to customers as soon as it is possible to do so".

Klair Neenan, SSE Airtricity managing director, said: "We're acutely aware of the pressure people have been experiencing, while wholesale market prices have remained significantly higher than the pre-pandemic norm."

Raymond Gormley of the Consumer Council said the decrease was 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 SSE Airtricity customers in six months, electricity prices remain significantly higher than the pre-pandemic norm," he added.

While there is no universal support for households in Northern Ireland this winter, those on certain means-tested benefits are due to get a third cost-of-living support payment.

Many low-income households will receive £299 from the government this spring.

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Elsewhere, domestic energy prices are predicted to fall by 16% in England, Scotland and Wales.

However, this prediction is not guaranteed, as it will be another month before the regulator, Ofgem, sets its price cap for the second quarter of the year.

Energy prices and the overall sector are regulated differently in Northern Ireland. Households tend to pay less than the UK average but businesses pay more.