Energy Price Increases for Power NI and Firmus Customers
Customers of Power NI and Firmus will experience a rise in their energy bills starting from 1 July.
Power NI will increase its electricity unit price by 6.2% across Northern Ireland. The company states this will result in an average household bill increase of approximately £5 per month.
Firmus will raise its natural gas tariff by 15.65% for customers in its Ten Towns area. This increase equates to an additional £2.47 per week, or about £10.70 per month, for the average household.
Both suppliers attribute these increases to elevated global energy and gas prices.
Power NI's Statement on Tariff Increase
"This tariff increase was not a decision we've taken lightly," said William Steele, Director of Power NI Customer Solutions.
"We have worked hard to hold prices for as long as possible, but sustained increases in global gas costs, along with higher network and market related charges, means unfortunately this increase is unavoidable.
We know this is unwelcome, however, we've delayed the change as long as we could, while keeping our tariffs competitive locally and below the average in GB and the Republic of Ireland."
Firmus Comments on Tariff Adjustment
David Smith, director at Firmus, addressed the tariff change, noting the ongoing challenges in the energy market.
"Unfortunately, we continue to experience elevated wholesale prices while the conflict in the Middle East remains unresolved.
Over the last year or so we have reduced our tariffs on three separate occasions, bringing tariffs down by over 27% and saving customers around £300 on average per annum."
While the increase is unwelcome, it means that customers' bills will now be roughly the same as this time last year and still significantly below where they had been in previous years."
Utility Regulator's Perspective
Leigh Greer, head of security of supply and markets regulation at the Utility Regulator, acknowledged the impact of the price rises on consumers.
"We understand this increase in energy costs is not welcome news for consumers.
Unfortunately, the impact of continued and sustained rises in the wholesale cost of energy, caused by the conflict in the Middle East, has resulted in these increases.
The conflict has impacted energy prices globally, and has already affected home heating oil, petrol and diesel prices."
