Budget Energy Announces 9.5% Price Increase
Budget Energy has announced a 9.5% price increase for some customers, effective from 4 August. This adjustment will affect residential electricity unit rates and standing charges for customers on variable tariffs. Customers on fixed-price tariffs will not be impacted by this change.
The company attributed the price rise to the ongoing volatility in wholesale energy markets, geopolitical tensions, and persistent pressures within the energy sector.
Company Statement and Customer Guidance
Ken O'Byrne, Managing Director of Budget Energy NI, stated that the company will continue to monitor market conditions closely.
"We understand this is unwelcome news, especially at a time when many households are facing pressure on everyday costs,"
"We encourage our customers to review their tariff options to make sure they are on the plan best suited to their needs."
Budget Energy has committed to notifying all affected customers directly before the price change takes effect, providing comprehensive details about the updated tariffs.
Context of Recent Energy Price Changes
This announcement follows recent price increases by other energy providers. Last week, SSE Airtricity revealed that household bills will rise by 6.2% starting 1 August, which equates to approximately 20p per day or an additional £71.57 annually.
Earlier, Power NI implemented a 6.2% increase in its electricity unit price, effective from 1 July.
- SSE Airtricity bills to increase by more than £70 a year
- Energy bills to go up for Power NI and Firmus customers
- How you can save money on your energy bill as debts rise
