Natural gas supplier Firmus Energy to hike prices by 33%

Tariffs in the Ten Towns network area will rise by 33.57% on February 24, a move that will add £5.95 per week to the average household bill.

Firmus Energy has announced that gas prices will rise in much of Northern Ireland (PA) (PA Wire)

Gas supplier Firmus Energy is to increase prices for customers in much of Northern Ireland by a third.

Tariffs in the Ten Towns network area will rise by 33.57% on February 24, a move that will add £5.95 per week to the average household bill.

The price increase will affect around 55,000 customers.

This is the latest in a series of rises to the price of gas for customers.

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

Dr David Dobbin, Firmus Energy

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

The company apologised for the increase but said it was an unavoidable consequence of surging global gas prices and concerns over low stocks.

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.”

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

John French, Utility Regulator

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.”

This is the latest in a series of price rises by Firmus in Northern Ireland.

In December, the company announced it was putting up gas prices by 38% in the Ten Towns area.

This followed a rise of 35% in October and an 18% hike earlier in the year.