Budget Energy set to increase electricity prices for the third time this year
Budget Energy, Northern Ireland’s third largest domestic electricity supplier, is set to increase prices by 18% from Friday 8 October 2021. This announcement today means that, in the last seven months, it has increased prices by over 36%.
The typical customer with a credit meter will see their bill rise by around £129 per year, while customers with a keypad (PAYG) meter will see a yearly increase of about £128 per year.
Peter McClenaghan, Director of Infrastructure and Sustainability at The Consumer Council, said: “This is terrible news for around 96,000 Budget Energy customers, especially considering it is the company’s third increase in seven months.
“It comes hot on the heels of significant gas price rises by SSE Airtricity and firmus energy. This combined electricity and gas increase could result in some consumers having to find around an extra £300 to put towards annual energy costs.
“Clearly this will make household budgeting more of a challenge especially for those consumers who are already experiencing financial pressures. Any customers who are struggling to pay their bill should contact Budget Energy to discuss their available options.”
There will be no exit fee applied to customers that switch supplier before 8 October 2021. To help in the switching process, the Consumer Council’s website (www.consumercounicl.org.uk) has a free independent energy price comparison tool. It empowers consumers to compare all electricity and gas tariffs across Northern Ireland in one place.
Peter added: “We are aware this increase is due to the continuing rise of wholesale energy costs however we must stress the importance of consumer protection and support during times of such price increases. We will be engaging with Budget Energy to ensure they have appropriate support in place to assist consumers in vulnerable situations.”
The website also has a number of free resources including Switch On: A Guide for Home Energy Users to help consumers be more energy efficient at home, get the best from their electricity or gas supply and save money.
Consumers can also get in touch with the Consumer Council for free independent advice by calling Freephone 0800 121 6022 or by emailing email@example.com.