SSE Airtricity Gas Prices Soar 19% Amid Middle East Conflict

Northern Ireland's largest gas provider, SSE Airtricity, is raising its prices by almost 19% from October. The price increase will affect over 200,000 domestic and small business customers.

The annual gas bill of a typical household in the greater Belfast and west gas network areas will rise by nearly £172. SSE Airtricity cites 'unprecedented levels of volatility in global energy markets' as the reason for the hike.

Wholesale gas prices have doubled since the US and Israel began their attack on Iran, which has led to a sustained increase in costs. The conflict in the Middle East has limited oil supplies, causing global energy prices to soar.

Raymond Gormley from the Consumer Council for Northern Ireland says the price rise is 'a significant amount' that will be a shock to consumers, who are already facing high electricity prices and oil costs.