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Phoenix cuts gas prices by 19% Phoenix Supply, Northern Ireland's biggest gas retailer, has confirmed a 19.per cent reduction in its tariffs. The price reduction will apply from 1 October. The company calculated that the average domestic gas bill will fall by £104 annually. This initiative means Phoenix has become the first major UK gas supplier to cut prices twice this year. David Strahan, general manager of Phoenix Supply, said: "We made a commitment to our customers in January that should the wholesale cost of gas continue to fall we would, once again, reduce prices accordingly. This is a promise we have kept". The Province's Utility Regulator welcomed the news. Chief executive, Iain Osborne said: "Active regulation is playing its part to help Northern Ireland households and small business weather the recession. We have acted quickly to make sure recent falls in wholesale gas prices are fully passed on to the consumer. "We made a commitment last year to ensure that cost reductions would be fully and quickly reflected in gas bills paid by Northern Ireland consumers. This announcement delivers on that undertaking". He added: "Gas customers in the Greater Belfast area are now paying bills that are back to 2006 levels, and that compare favourably to the Republic of Ireland and to the rest of the UK". Source: Utility Week © Faversham House Group Ltd 2009. News articles may be copied or forwarded
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