News
Phoenix Gas Prices Set To Soar...
20th April 2011
Phoenix Gas announced yesterday that its prices were set to rise by 40% within the Greater Belfast area. It’s understood that the price increase is set to take effect at the start of next month, with the utility regulator set to confirm the price hike later this week.
The increase is significantly higher than had been expected, with most consumers braced for a maximum increase of 30%. The latest rise in gas prices within the region could now bring the average household gas heating bill to £580.
Global events, including the recent unrest in Lybia, have contributed significantly to the scale of Phoenix’s price increase. In the wake of rising wholesale gas prices during a period of volatility within the market there is speculation that competitor, Firmus Energy will be forced to follow suit and introduce a similar increase towards the end of the year.
