Last week two of the largest electricity suppliers in Northern Ireland, Electric Ireland and SSE Airtricity, announced they are raising electricity prices for domestic customers by 8% and 6.9% respectively from 01 October 2019. These increases come days after the announcement from Northern Ireland’s largest supplier, Power NI, that they were also implementing an increase of 6.1% for domestic customers. The price increases across the 3 businesses will impact 88.9% of domestic connections. In this blog, we investigate the contributing factors for the NI price increases.
Related thinking
Heat networks
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Funding the cost of decarbonising the power system has mainly been through the consumers' electricity bills. In fact, in 2020-21 these costs amounted to a whopping £10bn. But is this method of raising revenue for decarbonisation still fit for purpose when faced with the need to decarbonise the nation's heat?...
Regulation and policy
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Regulation and policy
Calm before the storm? 2021 energy supplier compliance developments
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Regulation and policy
Electricity transmission charging reform – overtaken by changing priorities?
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Announcement
BBC interview | Robert Buckley discusses Ofgem’s price cap
Robert Buckley spoke to Felicity Hannah on BBC Five Live’s Wake up to Money programme ahead of Ofgem’s announcement to increase the default price cap by £96 to £1,138. Robert explained that a combination of a rise in wholesale prices and policy costs for renewable electricity, as well as the inclusion of £23.69...
Regulation and policy
Ofgem “hands-on” in RIIO-2 as net zero route unfolds
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Commercial and market outlook
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