SSE Airtricity has announced a 7 per cent cut to its domestic electricity tariffs from November 1.
The company, which supplies electricity to around 160,000 households in the north, estimates the cut will save around £90 a year for the average customer.
SSE’s domestic tariffs currently range from 35.18p per unit to 42.38p.
The 7 per cent reduction across the board on domestic tariffs will take its lowest rate down to 32.72p per kWh.
That rate is based on a 12-month fixed term contract, which includes a 17 per cent discount, plus it requires payment by direct debit and customers opting for e-billing.
The Consumer Council estimates a household on SSE Airtricity's standard tariff will see their annual bill cut from £1,356 to £1,261 (around £95).
Earlier this month, the north's Utility Regulator ruled out further cuts to Power NI’s tariff this Autumn, which has the biggest customer base in the north.
The regulator estimated the typical Power NI customer currently pays around £1,015 per year for electricity.
Customers in the Republic pay an average of around £1,660, while GB households pay around £1,140.
According to the Consumer Council, Power NI’s domestic tariffs range from 29.82p per unit to 31.72p, which is lower than SSE Airtricity’s new November 1 tariff.
Raymond Gormley, head of energy policy at the Consumer Council, said while the SSE Airtricity cut is welcome news, electricity prices remain significantly higher than the pre-pandemic norm.
"Similarly, natural gas prices remain high, heating oil prices have increased recently and petrol and diesel prices are rising at the pumps," he said.
"For these reasons we continue to advocate for further support for Northern Ireland consumers in the winter ahead.
“We urge anyone who is struggling to pay their energy bills or top-up their meters to contact their supplier directly for help and support."
SSE Airtricity’s managing director, Klair Neenan, said: “We're acutely aware of the pressure people have been experiencing with the cost-of-living crisis and we recognise that this continues to be a difficult time for many.
“We’ve worked hard over the last 18 months to shield our customers from the impact of record wholesale costs through our approach to buying energy, and we promised to pass on savings, as soon as it was possible to do so. Today, we’re delivering on that promise."
