Firmus Energy Ups Tariffs Amid Global Market Pressures
Firmus Energy is set to impose a noteworthy price hike on its gas tariffs in Northern Ireland, attributing the move to climbing global energy costs amid ongoing tensions in the Middle East. An 8.98% price increase will impact customers in the Ten Towns area starting 1 October, while those in Greater Belfast will see a 12.5% rise from 8 October.
Impact on Customers
The impending adjustments translate to an estimated additional monthly cost of £7 for the average customer in the Ten Towns and £12 more for those in Greater Belfast. Approximately 77,000 residential and small business clients are situated within the Ten Towns, covering Antrim, Armagh, Banbridge, Ballymena, Coleraine, Craigavon, Newry, Londonderry, among others.
Company’s Justification
Sharleen Winning, head of regulation at Firmus Energy, explained that the persistent turmoil in the Middle East has driven up the costs of gas on the global market, leaving the company with no viable alternative but to increase tariffs. Winning emphasised that Firmus Energy had delayed implementing these changes in anticipation of market improvements and reiterated the company’s commitment to lowering tariffs swiftly following any reduction in global wholesale prices.
Industry Context
This development follows SSE Airtricity’s announcement to raise its prices by nearly 19% from 1 October, impacting 200,000 customers across Northern Ireland. With these ongoing increases, the Utility Regulator has advised customers feeling financially strapped to reach out to their suppliers for assistance, stressing the availability of payment options and support measures.
Consumer Concerns
Raymond Gormley of the Consumer Council warned that this could pose a particularly challenging winter for consumers, as household energy consumption typically peaks during this time. He encouraged consumers to explore strategies for reducing energy bills, such as reviewing payment options and supplier contracts, highlighting that even small savings can be significant during this financially burdensome period.
Reporting based on coverage first published by bbc.co.uk.