Energy minister Arlene Foster has welcomed the move by the two energy firms, which were revealed following an independent review of gas and electricity prices in the province.
Ms Foster did however tell the news provider that she would have liked to see "even bigger price reductions".
She stated: "I'm satisfied that the regulator has looked at the wholesale market, he has looked at the sterling/dollar differential and he has said that he is satisfied that these price reductions are in line with what's going on."
Ed Miliband, energy secretary, recently said that energy firms should pass on reductions in wholesale prices to consumers "as soon as possible".
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.