Budget Energy announces 9.5% price increase
Summary
Budget Energy will raise electricity prices by 9.5% for customers on variable tariffs starting August 4. Customers with fixed-price plans will not see a change.Key Facts
- The price increase affects residential electricity rates and standing charges for variable tariff customers.
- The change takes effect on August 4.
- Fixed-price tariff customers are not impacted by the increase.
- Budget Energy said the hike is due to changes and uncertainty in wholesale energy markets and global political tensions.
- The company plans to inform affected customers directly with details about the new prices.
- Other energy providers in Northern Ireland, like SSE Airtricity and Power NI, have also recently increased prices by around 6.2%.
- SSE Airtricity’s increase starts August 1, adding about £71.57 per year to household bills.
- Budget Energy’s managing director encourages customers to review their plans to find the best option.
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