Budget Energy to hike prices by 27% for home customers

The Consumer Council has announced that Budget Electricity, Northern Ireland’s fourth largest electricity supplier, is set to increase prices for domestic customers by 27% from Friday 27 May 2022.

It comes after SSE Airtricity, Northern Ireland’s second largest electricity supplier, also announced a price hike of 33% for hard-pressed consumers, effective 1 June 2022.

These increases will effect three in ten households, around 248,000 domestic customers.

The two companies announced electricity price increases in October 2021, meaning this increase is the second in 6 months. SSE Airtricity’s Standard tariff for both credit meter and keypad (PAYG) meter customers will increase by £248 to just over £1,000 a year. Budget Energy’s typical customer with a credit meter will see their bill rise by around £280 per year, while customers with a keypad (PAYG) meter will see a yearly increase of about £275 per year.

Peter McClenaghan, Director of Infrastructure and Sustainability at the Consumer Council, said:

“These price increases are the latest in a stream of bad news regarding the increasing cost of living in Northern Ireland.

“At the Consumer Council we listen to consumers daily and hear first-hand how upset, worried, and angry they are about price increases. While Consumers get that these price increases are happening due global reasons, it doesn’t make it any easier for people to pay their bills.

“If you are struggling to pay your bills, the first thing to do is contact your supplier directly for help and information. There are measures that can be put in place to help you. Unfortunately, prices are set to stay high for the foreseeable future so the Consumer Council will continue to push for significantly improved initiatives to help consumers who are experiencing payment difficulties.”

We also have 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 contact@consumercouncil.org.uk.