Utility Regulator comments on decrease to Firmus Energy’s regulated gas tariff

Commenting on Firmus Energy’s regulated tariff announcement, Colin Broomfield, Director of Markets at the Utility Regulator said: 

“In January 2024, the Utility Regulator commenced a review of Firmus Energy’s regulated gas tariff for domestic and small business customers in the Ten Towns area. Following our analysis, the review has determined that from 1 April 2024, Firmus Energy’s regulated tariff will reduce by 15.6%, or £213 per year. This reduction is primarily driven by the steady fall in wholesale energy prices. 

“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. This means that regulated electricity and gas tariffs in Northern Ireland will compare as follows to Great Britain and the Republic of Ireland:

^{Note: Figures above based on the annual bill of a domestic customer consuming 12,000 kWh of gas and 3,200 kWh of electricity on the standard tariff. [i]Exchange rate of 0.85 used.}

“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. If you are worried about paying your electricity or gas bill, help is available. We would encourage you to contact your supplier in the first instance, to make them aware of your circumstances, and discuss the options available. In addition, there are a number of agencies who can provide free and independent advice to households, including Advice NI, Christians Against Poverty, the Consumer Council and Money and Pensions Service’s MoneyHelper.

“Tariff reviews form part of our regular scrutiny to make sure that consumer bills reflect the actual cost of providing gas to homes and businesses. We will continue to monitor the regulated suppliers’ tariffs and ensure any further falls in costs are passed through to customers at the earliest opportunity.” 

This tariff announcement marks the conclusion of a review undertaken by the Utility Regulator and Firmus Energy, in consultation with the Department for the Economy and the Consumer Council for Northern Ireland. 

A briefing paper for the Firmus Energy tariff review has been published. 

Further information: 

Media contact: Adele Boyle, 07787 279584.

• Firmus Energy’s tariff review includes small business customers using less than 2,500 therms per annum.

• The tariff review commenced in January 2024 and covers around 67,000 customers in the Ten Towns area.

• The Utility Regulator only regulates Firmus Energy’s tariff in the Ten Towns area. 

• The bill comparison with GB is based on annual consumption of 12,000 kWh of gas and 3,200 kWh of electricity on the standard tariff. 

• The bill comparison with RoI is based on annual consumption of 12,000 kWh of gas and 3,200 kWh of electricity, on the standard tariff. 

• The exchange rate used for comparison is 0.85 and VAT rate is 9%. 

• The Ten Towns area refers to Firmus Energy’s distribution network and includes: Derry/Londonderry, Limavady, Coleraine (including Portstewart and Bushmills), Ballymoney, Ballymena (Broughshane), Antrim (including Ballyclare and Templepatrick), Craigavon (including Portadown and Lurgan), Banbridge, Newry (Warrenpoint), Armagh (Tandragee) and more than 25 other towns and villages in the surrounding area. 

• The Consumer Council’s website has energy advice for consumers and also provides an independent energy price comparison tool to help consumers save money. 

• A number of agencies can provide free and independent advice, including Advice NI, Money and Pensions Service and Christians Against Poverty. There is also more information on support for natural gas customers from the www.naturalgasni.com website.