OREANDA-NEWS. SSE Airtricity, Northern Ireland’s largest provider of natural gas and the second largest provider of electricity, has confirmed today it will reduce its standard natural gas prices by almost 8% and its standard electricity prices by 8%, saving its typical household energy customers ?108 annually.

The reductions come into effect from 1 April 2015 and will apply to all of SSE Airtricity’s 300,000 home, small business and farm tariff customers or around 30% of the energy market here.

The price cuts being announced will see the company reduce its prices by 7.8% on average for natural gas and by 8% for electricity.

The move follows a review by the company of its costs associated with energy supply, including an annual review of the supply and operating costs of its regulated natural gas business which is conducted at this time every year. This gas price review was completed by SSE Airtricity in consultation with the Utility Regulator, the Department of Enterprise Trade and Investment (DETI), and the Consumer Council of Northern Ireland (CCNI).

Stephen Wheeler, SSE Airtricity Managing Director, commented:

“I’m pleased today that we’re announcing cuts to our natural gas prices of around 8% and cuts to our electricity prices of 8%, saving a typical household energy customer ?108 in their annual natural gas and electricity costs.

“Our announcement today delivers on the promise we have always made that if we can lower energy prices, we will, and reflects our long-standing approach to buying energy on wholesale markets which ensures we can provide our natural gas and electricity customers with competitive products and stable prices at all times, as well as the cheapest home electricity switching products in the market. In this way we’re continuing to make a difference for all our customers and for home electricity customers looking for the best value switching deals.”

The average 7.8% cut to natural gas prices will apply to around 127,000 home and small business customers in the Greater Belfast natural gas supply market and will mean a standard price saving of ?53 for a typical household natural gas customer.

The 8% cut to electricity prices will apply to around 170,000 customers on variable tariffs including those on introductory switching discounts, and will mean a standard price saving of ?55 for a typical household electricity customer.

New home electricity customers switching to SSE Airtricity from Power NI and other providers will also benefit. SSE Airtricity is currently offering Northern Ireland’s cheapest home electricity switching offers that guarantee householders introductory discounts of up to 10% off their Direct Debit and KeyPad electricity as well as a welcome bonus of free credit when they switch.

SSE Airtricity is a wholly-owned subsidiary of the FTSE-listed and Scotland based SSE plc.