Lancashire residents’ power bills could be cut by almost £20 following a reduction in prices by regional network operator, Electricity North West.
The company, which owns the region’s network of overhead lines and underground cables, had its proposals endorsed by the regulator Ofgem last week.
Steve Johnson, Electricity North West’s chief executive, said: “Currently almost £120 from each household electricity bill in Lancashire and across the North West comes to us to invest in the local network.
“From April next year, we’re cutting our part of people’s bills to just over £100, meaning that customers will pay just 28p a day to us to transport power through our vast network of wires and infrastructure. I’m delighted that today our plans have been recognised as industry-leading.”
Electricity North West connects 2.4 million properties in the region to the National Grid. The North West price cut is the biggest of any region.