Gas prices: SSE to reduce prices by 22.8% from April

Northern Ireland's largest provider of natural gas, SSE, is cut to its prices by 22.8% from April.

SSE says a typical household customer will save £320.47 a year as a result.

Wholesale natural gas prices have fallen sharply since they peaked after Russia's full-scale invasion of Ukraine in February 2022 - those price falls are now starting to feed through to consumer prices.

NI's largest electricity supplier Power NI is also to cut prices.

They will drop by 6.3% (2p per unit) from the start of April.

The company said the move reflected a fall in wholesale market costs and would save the average household customer £64 per year.

Other electricity suppliers have also been cutting prices as wholesale costs fall from record levels.

Power NI's prices are regulated by the NI Utility Regulator.

Power NI customer solutions director William Steele said: "As wholesale prices in the global market have fallen, Power NI has been able to deliver yet another decrease in unit prices for our customers, with our fourth consecutive tariff reduction."

Andrew Greer, SSE Airtricity general manager (NI) said he was pleased by the gas price cut.

"We know energy costs are a primary concern for customers across Northern Ireland, and that wholesale market volatility has impacted households and business so this price reduction will no doubt provide some welcome relief," he said.

As the largest incumbent gas supplier SSE prices are regulated by the NI Utility Regulator.

The Utility Regulator welcomed the decrease to energy bills, adding that an announcement around Firmus Energy's regulated gas tariff will be made in the coming.

Colin Broomfield, Utility Regulator director of markets, said: "While this is good news for consumers, we recognise that many households and businesses are still struggling with the cost-of-living crisis. If you are worried about paying their electricity or gas bill, help is available."