Phoenix confirms 14.6% price cut!
21st March 2007
Phoenix Natural Gas confirms a 14.6% reduction in its tariffs. These lower rates will apply from 31st March.
Phoenix confirms that the price cut, on which the company has been in formal consultation for the past month, is due to the fall in the wholesale cost of gas over the winter period.
The average domestic bill will fall by £89 annually which equates to £1.71 per week.
Peter Dixon, Group Chief Executive of Phoenix, said: “We made a commitment last October to review the gas price at the end of the winter. Today we are able to confirm a reduction in the price by 14.6% at the end of this month.
With wholesale gas costs beginning to enter a period of stability, Mr Dixon also stated: “I would hope the news today marks the beginning of a period of price reductions and as part of our commitment Phoenix will be carrying out a further review of prices by the end of this summer.”
Mr Dixon concluded: “In arriving at this level of decrease and the commitment to do another review later this year, we have consulted extensively with the Northern Ireland Authority for Energy Regulation, the Consumer Council and the Department for Enterprise, Trade & Investment. Phoenix remains committed to working hard to deliver the lowest possible price to our customers.”