Power NI cuts small business bills by 10%

Power NI has announced cuts to small business and farm tariff rates by an average of ten per cent.

The company said the reduction will save a typical small business customer around £200 a year, based on using 15,000 units a year on Popular tariff.

The Northern Ireland Independent Retail Trade Association (NIIRTA) welcomed the announcement, with chief executive Glyn Roberts describing the move as “encouraging”.

“This is a positive announcement by Power NI which will be welcomed by our members,” he said. “For too long, the high cost of energy was a significant problem for small traders and it is encouraging that prices are now their lowest since 2004.”

Northern Irish businesses pay among the highest prices for energy in the UK, and the issue was cited by tyre producers Michelin last year as central to their decision to close their plant in Ballymena.

Mr Roberts added: “Given that independent retailers are experiencing a perfect storm of costs such as rates, national living wage and auto enrolment pensions, this tariff reduction is very timely.”

The Ulster Farmers Union also welcomed the move.

Its deputy president Barclay Bell said: “This will have a positive impact on farming families throughout Northern Ireland. These are difficult times for agriculture, with many businesses facing severe cash flow difficulties this winter. Any reduction in costs is welcome relief for the farming sector.”