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Budget Energy customers face price hike next month
7 Jul
Summary
- Budget Energy customers on variable tariffs will see a 9.5% price increase.
- The price hike affects electricity unit rates and standing charges starting August 4.
- Fixed-tariff customers are exempt from the upcoming price adjustment.
Budget Energy will raise prices by 9.5% for customers on variable residential electricity tariffs starting next month. The increase, effective August 4, will apply to unit rates and standing charges, while those on fixed-price plans remain unaffected. The provider attributes this decision to continued volatility in wholesale energy markets, geopolitical tensions, and sustained market pressures.
Managing Director Ken O'Byrne acknowledged the unwelcome nature of the news, particularly for households already facing financial pressures. He advised customers to review their current tariff options to ensure they are on the most suitable plan. Budget Energy assures that all affected customers will receive direct notification with full details of the new tariffs prior to the change.
This adjustment follows similar recent price hikes from other energy providers. SSE Airtricity announced a 6.2% increase effective August 1, and Power NI also implemented a 6.2% rise in electricity unit prices in July. These increases highlight ongoing challenges within the energy market.
