Gas price hike on cards in North
Domestic gas prices in the North could be set for a 25% hike, it emerged tonight.
Supplier Phoenix Natural Gas confirmed it was in talks with UK industry regulator Ofreg over the potential increase.
Although no decision has been taken, a spokeswoman admitted rising global energy costs could force the action by the autumn.
She said: “We have indicated the need for a possible increase of 25% to reflect wholesale gas prices. But that’s within the context of the rise in oil prices – in Northern Ireland consumers are paying 50% more.”
The proposals form part of a public consultation document issued to Ofreg.
With Phoenix’s annual review coming into effect on October 1, a final decision on the new tariffs will be made by mid September.
Last year the company suggested a 20% price rise because of licensing issues.
But this was later reduced to 11% after negotiations with Ofreg.
