OREANDA-NEWS. SSE Airtricity, Northern Ireland's largest natural gas provider, has announced it is holding its regulated natural gas prices for its domestic and small business customers at current levels until April 2015.

This latest good news from SSE Airtricity means that its almost 119,0001 natural gas customers in the Greater Belfast area will have enjoyed an effective gas price freeze for a period of two years since the company last changed its tariffs in April 2013.

Today's announcement follows the half-yearly review by SSE Airtricity and the Utility Regulator of the company's regulated natural gas supply tariffs2. This includes a detailed independent examination by the Regulator of the company's current natural gas supply and operating costs that occur at this time every year as part of the annual Price Control review of regulated gas tariffs3.

SSE Airtricity has also consulted with the Department of Enterprise Trade and Investment (DETI) and the Consumer Council of Northern Ireland (CCNI) and has advised both bodies of today's announcement.

Stephen Wheeler, SSE Airtricity Managing Director, said:

“I'm pleased today that we're announcing once again that we're holding our regulated natural gas prices. This represents an effective two year price freeze of our natural gas tariffs up to April next year for our home and business customers.

“At SSE Airtricity we believe in doing more at all times to ensure that we provide the energy our customers need in a reliable, sustainable and affordable way. The continued stability in our natural gas tariffs demonstrates the difference we're making to the price our customers pay for their gas. Since we acquired Phoenix Supply in June 2012 we've used our scale and expertise on wholesale GB gas markets to introduce much greater price stability into the natural gas market here. Today's announcement demonstrates how we're passing on the benefits of that scale and expertise to help smooth the impact of price movements on customers' bills.

“Also, by continuing to hold our gas prices at this time we're emphasising once again the continued consumer benefits of cheaper and cleaner natural gas for heating homes compared with the price of oil which remains volatile and which over the last five years has been almost 23% more expensive that natural gas4.”

SSE Airtricity is Northern Ireland's No.1 natural gas provider and is the regulated supplier of natural gas to almost 119,000 domestic and small business customers in the Greater Belfast area, equivalent to 72% of all natural gas customers in the area. SSE Airtricity supplies natural gas and greener electricity to a total of over 300,000 Northern Ireland homes and businesses or around 30% of the energy market and is a wholly-owned subsidiary of the FTSE-listed and Scotland based SSE plc, the broadest-based energy utility in the UK.

SSE Airtricity provides natural gas to 118,829 Domestic and Small Industrial & Commercial customers in the Greater Belfast area. Figures quoted based on latest Retail Market Monitoring Quarterly Transparency Report Q1 2014 published by the Utility Regulator, May 2014.

SSE Airtricity's regulated natural gas supply tariffs for its domestic and small business customers are reviewed annually as part of a detailed independent Price Control examination by the Utility Regulator of the company's current natural gas supply and operating costs. Under this Price Control process the setting of SSE Airtricity's regulated natural gas prices, including any changes to those prices, require the formal approval of the Utility Regulator.

The Price Control process allows for an interim or 6-month review by the Regulator of SSE Airtricity's natural gas tariffs with any mid-year price changes, if required, taking effect from 1 October each year. Annual price changes, if they are to be applied, take effect from 1 April each year.

Natural gas remains the most attractive and cheapest form of home heating for householders when compared with the cost of home heating oil. The price of oil, which is not subject to any price control process, remains highly volatile. Over the last five years home heating oil has been 22.8% more expensive† than natural gas, confirming once again that natural gas is the cheapest alternative for householders to heat their homes.