Householders in Northern Ireland are to face reduced electricity and gas prices, it was announced today.
Phoenix Gas is reducing its prices by over 22 per cent and NIE Energy is dropping the price of electricity by more than 10 per cent.
The announcement came as finance minister Nigel Dodds is poised to announce a package of measures aimed at softening the effects of the credit crunch and economic downturn.
The reductions follow sharp price increases by the North's utility companies earlier this year.
NIE put up its tariffs by 33.3 per cent from October 1st on top of a 14 per cent rise in July. Phoenix increased its prices by 19.2 per cent in October after a 28 per cent hike in May.
Meanwhile, the Northern Ireland Executive today announced the creation of a fuel credit plan worth £15 million. The scheme, which forms part of an aid package to combat the economic downturn, will see people claiming income support or pension credits receive a £150 cut in their first