Portfolio Business news

18 September 2010

No Price Increase for Phoenix Supply Customers

Phoenix Supply has announced that the price of natural gas will remain unchanged for around 130,000 homes and bus inesses across the Greater Belfast area from 1st Oc tober 2010.

The move to keep gas prices at their current level comes despite increases in wholesale energy prices in recent months. The announcement was made after a period of formal consultation with the Utility Regulator, Consumer Council for Northern Ireland and the Department of Enterprise Trade and Investment.

Last year Phoenix Supply reduced tariffs by a total of 36.9%, which dropped the average annual bill of Phoenix Supply customers to around £437 per year.

David Strahan, Managing Director of Phoenix Supply, said: "Despite recent increases in wholesale energy prices on worldwide commodity markets, we are pleased that we have been able to maintain prices for our customers at their current level. Natural gas is currently around 18% cheaper than heating oil and continues to provide excellent value for money."

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