SSE Airtricity to increase gas prices by 19% from October
Summary
SSE Airtricity will raise gas prices by nearly 19% from October 1 for 200,000 homes and small businesses in Northern Ireland. This increase is due to higher wholesale gas costs caused by global energy market changes linked to the conflict in the Middle East.Key Facts
- SSE Airtricity is Northern Ireland’s largest natural gas supplier.
- The price rise will cost a typical household in Belfast and west gas network areas about £172 more per year.
- The increase is caused by volatile global energy markets and higher wholesale gas prices.
- Wholesale gas prices in the UK have doubled since the US and Israel attacked Iran.
- The conflict closed the Strait of Hormuz, an important route for oil and gas transport.
- About 20% of the world’s oil and liquefied natural gas passes through the Strait of Hormuz.
- The UK imports most of its oil and gas from the US and Norway.
- The continual rise in wholesale gas prices is expected to affect energy bills into winter.
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