Cut in gas and electricity prices

Gas prices are being cut by 22.1% following a review

Electricity and gas prices are to drop in Northern Ireland, it has been confirmed.

Northern Ireland Electricity is to reduce its price by 10.8%, with Phoenix Gas cutting its tariff by 22.1%.

The reductions follow an independent review of gas and electricity prices, instigated by the utility regulator.

Although she welcomed the news, Energy Minister Arlene Foster said she would like to have seen even bigger price reductions.

"I obviously welcome this news today - I think everybody in Northern Ireland will welcome it, but I also think everybody would also liked to have seen bigger price reductions," she said.

"But I'm satisfied that the regulator has looked at the wholesale market, he has looked at the sterling/dollar differential and he has said that he is satisfied that these price reductions are in line with what's going on."

'Too much'

The General Consumer Council said consumers in Northern Ireland were still paying "too much for their energy".

It said it would be "keeping up the pressure to ensure all changes that can be made to the regulatory system to get bills down further and faster are made as a matter of urgency".

NIE Energy had raised prices by 14% from 1 July and by 33.3% from 1 October.

Phoenix Gas had increased its prices by 19.2% in October, following a 28% rise in May.