Manweb to cut electricity prices by 1% from July
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.MANWEB is to cut electricity prices by an average 1 per cent from 1 July and will introduce new tariffs designed to help low users, writes Mary Fagan. The move follows a trend among electricity suppliers to cut or freeze bills under pressure from the regulator, Offer.
Last year the average increase in bills was one point below the inflation rate of around 3 per cent. Offer said yesterday that the prospects for prices in 1993-94 were encouraging despite plans to impose value added tax on fuel bills. This should be partly offset by lower coal prices now paid by the generators, National Power and PowerGen, and by lower inflation.
Professor Stephen Littlechild, director-general of Offer, is at present reviewing the formulae that control increases in electricity supply and distribution.
In Offer's annual report, published yesterday, Prof Littlechild warned that the reviews would bring greater pressure to bear on companies' margins and give firmer protection to customers.
On the review of electricity distrubution charges, he said: 'The revised price controls will need to reflect appropriate levels of capital relative to risk, with no assumption that the present levels of profit are appropriate for the future.'
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments