Home Business News Natural gas supplier set to increase prices by 33% affecting around 55,000 customers

Natural gas supplier set to increase prices by 33% affecting around 55,000 customers

by LLB Finance Reporter
1st Feb 22 1:04 pm

Gas supplier Firmus Energy are to increase prices for customers by 33% on 24 February which will add an extra £5.95 per week for the average household bill.

Around 55,000 customers in Northern Ireland will be affected by the price hike and tariffs in the Ten Towns area will have a rise by 33.57%.

More than 25 other towns and villages in the surrounding areas will be affected including The Ten Towns Network area includes Antrim, Armagh, Ballymena, Ballymoney, Banbridge, Coleraine, Craigavon (including Lurgan and Portadown), Limavady, Londonderry and Newry.

Firmus Energy said that price increase is due to the consequence of surging gas prices and there are concerns there could be lower stocks available.

Dr David Dobbin, chairman of Firmus Energy, said, “Unfortunately, due to the sustained high prices in wholesale gas markets we have had no option but to make a further increase in our gas tariff.

“Very low gas stocks, reduced Russian supplies and concerns about the Ukraine situation are all combining to keep European gas prices high.

“The market crisis has been well publicised, and markets look increasingly like they are going to remain high for some time.

“As we have previously stated, this is not just a Firmus issue but a challenge faced by every local and national supplier of gas and electricity, all of whom are affected by the huge upsurges which have taken place in wholesale gas and energy costs.

“Regrettably, we in Northern Ireland are at the mercy of the global wholesale gas market and are unable to influence these prices.”

John French, Utility Regulator chief executive, said, “The unparalleled increases in the cost of wholesale energy at a global level have persisted and continue to impact on supplier costs.

“This has been exacerbated by the overall volatility within the market, with significant price movements occurring on a daily basis.

“Unfortunately there appears to be no end in sight during 2022 for significantly above trend wholesale prices.”

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