Households in Northern Ireland are experiencing increased financial strain due to significant hikes in energy prices. SSE Airtricity has raised natural gas prices by nearly 19%, leading to an average annual increase of approximately £172 for typical households. This surge is attributed to volatility in global energy markets and rising wholesale gas prices, which have doubled recently due to geopolitical tensions.
Additionally, Share Energy has announced a 12.6% rise in electricity prices, adding £129 to the average household bill. The Consumer Council has indicated that these increases may prompt other suppliers to follow suit, exacerbating the ongoing cost of living crisis affecting many residents, particularly vulnerable groups such as families and those with terminal illnesses.