Firmus Energy announces gas price cut

Firmus Energy, the largest supplier of natural gas in Northern Ireland, has announced a price cut for customers.

The firm said its rates will decrease by 15.6% in both the Ten Towns and Greater Belfast network areas from the beginning of April.

Firmus said this will save households an average of £220.82 a year.

The company'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."

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 April 1 2024, Firmus Energy's regulated tariff will reduce by 15.6%.

"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."

Last week, electricity supplier Power NI and SSE Airtricity Gas Supply announced reductions in their tariffs.