Phoenix to raise gas prices by nearly 30%

Leading energy provider Phoenix Natural Gas has confirmed it is to raise its prices by nearly 30% from the start of October.

The firm blamed the 29.9% rise, which will begin on October 1, on high world energy prices.

Chief Executive Peter Dixon said: “Phoenix like all energy companies across the UK and Ireland are experiencing unprecedented high wholesale gas costs. For instance the cost for us to purchase gas in the next six months is £20m more than this time last year. And it is the cost to purchase gas that has led us to make this increase to the gas tariff from 1st October.

“We understand that this increase puts additional financial pressure on some customers and we want to encourage all of our customers to make sure they are being as energy efficient as possible, so no one spends more than they have to heating their homes."

Energy regulator Ofreg said that while today's announcement would affect all gas consumers in Northern Ireland, the present market was "a very high and volatile" place.

"We are content that the price they are now paying for gas is the price they are being forced to pay at the market," an Ofreg spokesperson said. "They have renegotiated that contract with Centrica and we are happy that is what is being delivered through to Northern Ireland customers."

(MB/SP)