Firmus Energy announces gas price cut from April

Firmus Energy is cutting gas prices across Northern Ireland by 15.6% from April.

The company says this will save households an average of £220.82 per year.

It is the fourth price cut for households in the Ten Towns Network area and the third reduction in Greater Belfast since December 2022.

The Utility Regulator only regulates the price tariff in the Ten Towns area.

The Ten Towns area includes Antrim, Armagh, Banbridge, Ballymena, Coleraine, Craigavon, Newry, Londonderry and more than 25 other towns and villages in the surrounding area.

Firmus Energy's Chief Executive Officer Niall Martindale said: "We welcome the recent stabilisation of global gas commodity markets and remain committed to passing on savings to our customers as soon as market conditions allow us to do so."

"Since December 2022, consecutive reductions have decreased our tariffs by over 46%, representing an average household saving of £1,094.50 per year," he added.

Director of Markets at the Utility Regulator Colin Broomfield said the reduction is primarily driven by the steady fall in wholesale energy prices.

He said: "This decrease to Firmus Energy's regulated gas tariff is good news for consumers and follows the announcements made last week regarding decreases to the regulated tariffs of Power NI and SSE Airtricity Gas Supply."

"We welcome these recent decreases to electricity and gas bills, however we recognise that many households and businesses are still struggling with the cost-of-living crisis," he added.

The Consumer Council's Raymond Gormley said: "Energy prices are still well above pre-pandemic levels, and we urge anyone who is struggling to pay their energy bills or top-up their meters to contact their supplier directly for help and support."

The Utility Regulator regulates Power NI electricity prices, SSE Airtricity gas prices in Greater Belfast and West and Firmus Energy gas prices in the Ten Towns network area.

It says that these latest price cuts will mean a typical annual electricity bill at Power NI is £951, which is cheaper than both Great Britain and the Republic of Ireland.

A typical annual gas bill of £1,079 for SSE Airtricity and £1,151 for Firmus energy is more expensive that the average bill in Great Britain (£891), but less expensive than the Republic of Ireland (£1,359).