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Belfast Live
Belfast Live
National
Lauren Harte

Shocktober: The prices set to surge next month amid Northern Ireland's cost of living crisis

The cost of living crisis in Northern Ireland continues to reach new heights and shows no signs of slowing down.

It comes amid a raft of rising prices customers are facing going into the autumn.

Global energy prices have been coming under pressure from Russia's invasion of Ukraine, which has pushed up the price of wholesale gas to historic highs.

Read more: Belfast protest planned to say 'enough is enough' to rising energy bills

There has been a 600% increase in the price of wholesale gas between July 2021 and this year.

Home heating oil prices in Northern Ireland have also risen again, with the average price of 500L now costing over £540. Two thirds of homes in Northern Ireland use home heating oil.

While prices reach new heights, energy companies continue to announce hikes in their charges as the winter months approach.

Click Energy customers in Northern Ireland are among those set to face a price hike of 28.2% from the start of next month.

The smallest of the five electricity suppliers in the province is increasing prices from October 1, a move that will impact around 26,000 customers.

Firmus Energy has also announced plans to increase its natural gas tariffs by over 56% this winter.

Taking effect from October 3, customers in both the Greater Belfast and Ten Towns networks will see price hikes in their gas bills. It means an increase of £15.50 for the average household for the Ten Towns area and an extra £16.22 per week for the Greater Belfast network.

The company says it is as a result of " unprecedented global prices " that it is "being forced to announce increases".

Electric Ireland is hiking its charges for customers here by 29% from next month.

It follows double-digit increases for power and gas announced last week by SSE Airtricity which also come into force on October 1.

Northern Ireland's third-biggest supplier with 104,000 customers, said the increase meant customers finding an extra £275 a year or £5.29 per week for the average user. The average annual bill will be £1,223.

SSE Airtricity announced it was increasing electricity prices here by 35.4% and gas prices by 28.3% on October 1.

SSE Airtricity Gas Northern Ireland says the tariff change means a typical household customer will see an average increase equivalent to around £0.96 per day. SSE Airtricity says the rise means a typical customer will see costs rise by around £0.91 per day.

Prime Minister Liz Truss has pledged that UK government plans to cap average household energy bills at £2,500 a year will apply in Northern Ireland.

Energy bills for the average household will be frozen at no more than £2,500 for two years under plans announced by Ms Truss in the House of Commons last Thursday to tackle soaring costs.

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