Firmus Energy Confirms 35% Natural Gas Price Increase

Firmus Energy has announced a 35% increase in natural gas prices from 01 October 2021.

The energy company has said that the price rise in the result of "substantial rises in global wholesale gas prices" and said that the change in tariff will mean an extra £3.33 per week on to the average household bill, bringing prices back to 2018/2019 levels. Since the start of April 2021, global gas commodity prices have increased by 170%. Throughout 2019 and 2020 firmus energy was able to cut its prices, totalling 37%, leading to historic low tariffs.

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

Michael Scott, Managing Director of firmus energy, said: "We are very sorry to have to make this announcement as the last thing we want is to have to increase our prices. However, given the massive increases in the cost of purchasing natural gas on the global markets, it is simply unavoidable, as these costs are totally beyond our control.

"With the world starting to reopen again, following the Covid-19 restrictions, this is leading to increased demand for natural gas and that has been driving the prices up at alarming rates. As normality returns, we expect prices to begin to stabilise again.

"Any increase is never welcome, and we know this will come at a particularly difficult time for many. Although we understand that gas prices across the UK and Ireland are likely to increase due to the global fluctuations, we appreciate this will be of little comfort to our customers.

"We want to assure our customers that we will continue to monitor and review our tariffs to ensure customers are getting the best prices possible. As soon as we can lower our prices again, we will do so without delay.

"We are fully committed to working with consumer bodies to best support our customers, especially in the forthcoming winter months."

Customers in the Greater Belfast area will not be impacted by today's announcement, although an announcement regarding tariffs in this area is expected in the coming weeks.

Raising concerns over the announced price increase, Sinn Féin MLA Caoimhe Archibald has said that hard pressed families will be further hit by a huge increase in prices.

The party's economy spokesperson said: "This is another huge increase in gas prices and another huge blow for already hard-pressed families.

"It follows the recent move by SSE Airtricity to hike its prices by 22% and Firmus has indicated that more is to follow with an announcement on its Belfast network also due.

"Many families, workers and pensioners here are still reeling from the British Government's attack on their livelihoods by increasing national Insurance contributions, ditching pension protections and cutting Universal Credit and Working Tax Credit.

"They simply will not be able to absorb these additional costs and there is no doubt that more households will be pushed into poverty as a result.

"It is particularly concerning given that it comes as we enter winter when the demand for gas will significantly increase.

"I have written to the utility regulator highlighting my concern on the scale of these increases and urging him to ensure energy companies are doing everything they can to cut the costs passed on to customers.

"Just like the British Government's attack on workers, pensioners and families, these hikes in energy costs will hit hardest on those already least able to afford it."