Share Energy has announced a 12.6% increase in electricity prices for its customers in Northern Ireland. This decision follows significant external cost pressures impacting the energy sector, exacerbated by global events such as Russia’s invasion of Ukraine and ongoing instability in the Middle East.
The CEO of Share Energy, Damian Wilson, stated that the company had absorbed costs for as long as possible, but the current market volatility made it unsustainable to continue without raising prices. Other suppliers like SSE Airtricity and Firmus Energy have also recently increased their rates, indicating a broader trend in the region’s energy market.
This price hike is particularly concerning for households already grappling with rising living costs. Share Energy, which serves over 41,000 customers, is committed to supporting those who may struggle with the new rates by offering assistance.
Looking ahead, Wilson has urged the government to address the over-reliance on gas in Northern Ireland’s energy supply. He emphasized that any future reductions in wholesale electricity costs would be reflected in customer prices, but for now, consumers will need to adjust to the higher rates.
Source: BBC News
