Firmus Hikes Gas Prices Amid Middle East Crisis
Firmus Energy has announced price hikes for its 136,000 gas customers in Northern Ireland. The increases range from 8.98% to 12.5%, depending on the region and type of customer. For households and small businesses, the tariff increase will add around £84 per year to the average annual bill.
The price hikes come as wholesale energy costs continue to rise due to the ongoing crisis in the Middle East. The wholesale price of natural gas hit £1.80 per therm on Thursday, more than double the market price before the US launched its assault on Iran at the end of February.
Sharleen Winning, head of regulation at Firmus Energy Supply, said: 'We cannot ignore the impact the situation in the Middle East is having on the cost of energy, and unfortunately this has left us with no option other than to increase our tariffs.'