Natural Gas Prices Set To Fall
Phoenix Supply has today confirmed an 8.5% reduction in its prices for households and small businesses with the new lower rates applying from 1st April 2012. The price cut is due to a recent fall in the wholesale cost of gas. The average Phoenix Supply domestic gas bill will fall by £51 annually to give an average annual domestic gas bill of £550, or just £10.58 per week1. After taking this decrease into account, natural gas prices in Northern Ireland will be around 6% lower than the average standard tariff of the major suppliers in Great Britain and 10% lower than the standard regulated tariff in the Republic of Ireland .
David Strahan, Managing Director of Phoenix Supply, said: “We are delighted to be able to make this announcement today which again demonstrates our commitment to delivering natural gas at the lowest sustainable price to our customers. This price reduction once again establishes our prices as being lower than the average standard tariffs applicable in both Great Britain and the Republic of Ireland.” Mr Strahan continued: "In delivering this price reduction, we have consulted formally with the Utility Regulator, the Consumer Council for Northern Ireland and the Department for Enterprise, Trade and Investment." Mr Strahan concluded: “Today’s announcement is particularly welcome news for natural gas customers as the price of heating oil has been on average 26% more expensive than natural gas over the past 12 months. This shows that natural gas remains excellent value for money when compared to other fuels and is one of the reasons why more and more customers are choosing natural gas.”