Rising Costs: Power NI and Firmus Announce Tariff Hikes for July

Customers of Power NI and Firmus are bracing for higher energy costs starting 1 July, as both suppliers implement price adjustments driven by surging global market rates.

Power NI has confirmed that its electricity unit price across Northern Ireland will rise by 6.2%. The utility provider estimates this change will add approximately £5 to the average monthly household bill. Meanwhile, Firmus is increasing its natural gas tariff by 15.65% for its Ten Towns clientele. According to the company, this adjustment translates to an additional £2.47 per week, or £10.70 per month, for the typical household.

Both companies attribute the hikes to escalating global energy and gas prices, a trend accelerated by geopolitical tensions. Specifically, costs have spiked since Iran responded to attacks by the US and Israel by effectively blocking the Strait of Hormuz, a critical shipping lane through which approximately 20% of the world’s oil and gas supplies typically pass.

William Steele, Director of Customer Solutions at Power NI, emphasized that the decision was not made lightly. "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," Steele stated. He acknowledged the disappointment among consumers, noting, "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."

Similarly, David Smith, a director at Firmus, highlighted the ongoing pressure from "elevated wholesale prices while the conflict in the Middle East remains unresolved." However, he pointed to previous efforts to mitigate costs, stating, "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." Smith added that despite the current increase, average bills will remain "significantly below where they had been in previous years" and will be roughly comparable to rates from a year ago.

Regulators have also weighed in on the situation. Leigh Greer, head of security of supply and markets regulation at the Utility Regulator, expressed empathy for consumers. "We understand this increase in energy costs is not welcome news for consumers," Greer said. She explained that 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," noting that the conflict has already influenced global prices for home heating oil, petrol, and diesel.

Looking ahead, the Consumer Council for Northern Ireland (CCNI) warns that prices could climb further if hostilities persist. Raymond Gormley of the CCNI described the recent gas price hike as "inevitable" given the regional instability. He cautioned that another regulated gas tariff review is set for October. "If the conflict is not resolved very soon, we could see further gas price increases in the autumn," Gormley said.

In response to the rising costs, the CCNI advises consumers to review their energy payment methods. They suggest that customers might be able to lower their expenses by switching payment options, altering billing frequencies, or changing suppliers.

Source: BBC News Generated at: 2026-05-29 11:05:28 UTC