GAS supplier Firmus Energy is to cut prices with many customers set to save around £60 a year.
The company said it will be dropping natural gas tariffs for 95,000 home and business customers by 8.77 per cent from October.
It said customers in the Ten Towns network area, which includes Antrim, Armagh, Ballymena, Ballymoney, Banbridge, Coleraine, Craigavon, Limavady, Derry and Newry, will see their typical household bill fall by £61 per year.
Bills for customers in the greater Belfast network area will be cut by an average of £54 per year.
It follows news of an increase in electricity prices by several companies last month.
Firmus said the price reduction came after consultation with the Utility Regulator, Consumer Council and the Department of the Economy.
Michael Scott, managing director, said: "firmus energy continually monitors and reviews its tariffs to ensure customers are getting the best prices possible and the steady drop in wholesale gas commodity costs over the last year has allowed firmus energy to pass these savings onto our customers.
"A price reduction is always welcome news and I am delighted that over 95,000 homes and businesses across the province will soon receive a letter with details of our price drop.
"The new, lower natural gas cost will come into effect in early October."
Paulino Garcia of the Consumer Council welcomed the price cut - the first in three years - and said it would like to see other gas suppliers follow suit
"This is especially pertinent since the Naturgy Monthly Energy Review and Forecast report published this week showed that wholesale gas prices have fallen by 55 per cent over the last 12 months."
