A cut in electricity prices is on the cards before Christmas but people are still paying too much for their power, the Consumer Council said yesterday.
Welcoming a review of electricity price structures by former energy regulator Douglas McIldoon, the council said it highlighted that the regulatory system that leaves households paying £114 more than those in Britain needs to be changed
Eleanor Gill, chief executive of the Consumer Council said: "Electricity consumers are paying dear this winter and while they may be reassured that the regulatory process was rigorously followed, the simple fact is that it has delivered a 52% price increase this year - a result which is described by Douglas McIldoon as a "profoundly unsatisfactory" outcome.”
The reaction came as Iain Osborne, Mr McIldoon’s successor as chief executive of the NI Authority for Utility Regulation, said he expects NIE Energy to cut its prices before Christmas. NIE Energy hiked its tariffs by 33.3% on October 1, blaming soaring international gas prices. But since then gas prices have fallen.