Price Control on Consumer Electricity Suppliers

Russell Adams made this Rhyddid Gwybodaeth request to Utility Regulator (Northern Ireland)

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Roedd y cais yn llwyddiannus.

Dear Utility Regulator (Northern Ireland),
In the light of a steep price rise recently announced by PowerNI to it's domestic electricity customers of over 20% I have a query related to the price control that this company is required to comply with.
Is there any upper limit to how much this company can raise it's prices to Domestic customers as imposed by what a letter from PowerNI refers to as a "price regulated" situation? it seems highly unfair for a "regulated" company to be able to raise prices by 4-5x the RPI, surely a mechanism exists to protect us from private enterprises (that presumably are not penalising their shareholders in the USA and other countries) price gouging? Hardly "regulated"!
Thanks for your assistance

Yours faithfully,
Dr Russell Adams,
Belfast

Boyle, Adele, Utility Regulator (Northern Ireland)

1 Atodiad

Hello,

 

Please find attached our response.

 

Kind regards,

Adele

 

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From: Russell Adams <[1][FOI #815301 email]>
Sent: 11 Dec 2021 11:28
To: "Stevenson, Barbara" <[2][email address]>
Subject: Freedom of Information request - Price Control on Consumer
Electricity Suppliers

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Dear Utility Regulator (Northern Ireland),
In the light of a steep price rise recently announced by PowerNI to it's
domestic electricity customers of over 20% I have a query related to the
price control that this company is required to comply with.
Is there any upper limit to how much this company can raise it's prices to
Domestic customers as imposed by what a letter from PowerNI refers to as a
"price regulated"  situation? it seems highly unfair for a "regulated"
company to be able to raise prices by 4-5x the RPI, surely a mechanism
exists to protect us from private enterprises (that presumably are not
penalising their shareholders in the USA and other countries) price
gouging? Hardly "regulated"!
Thanks for your assistance

Yours faithfully,
Dr Russell Adams,
Belfast

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