Share Energy, a Northern Ireland electricity supplier, will increase its prices by 12.6% starting October 1. The company cited significant market volatility due to geopolitical events, including Russia's invasion of Ukraine and instability in the Middle East, as key factors influencing this decision.
The Consumer Council for Northern Ireland noted that this price hike will result in an annual increase of approximately £129 for credit and prepayment customers. Other suppliers in the region have also announced similar price increases recently.
As Share Energy raises prices, consumers should explore energy-saving measures and consider switching suppliers. Watch for potential government interventions aimed at stabilizing the market and supporting vulnerable customers amid ongoing geopolitical tensions.