Budget Energy to Increase Prices by 9.5% for Some Customers

Budget Energy is set to raise its prices by 9.5% for certain customers beginning August 4. The increase will affect residential electricity unit rates and standing charges for those on variable tariffs.

Customers enrolled in fixed-price tariffs will not be subject to the upcoming price adjustment. The company attributes the rise to "continued volatility" in wholesale energy markets, compounded by geopolitical tensions and sustained pressures within the energy sector.

In a statement, Budget Energy NI's Managing Director Ken O'Byrne acknowledged the timing of the increase. "We understand this is unwelcome news, especially at a time when many households are facing pressure on everyday costs," he said. O'Byrne advised customers to review their current tariff options to ensure they are on the most suitable plan.

Budget Energy stated that all affected customers will be directly notified in advance of the changes, with full details of the revised tariffs provided. This price adjustment follows similar increases announced by other energy providers. SSE Airtricity previously announced a 6.2% increase for household bills, effective August 1, and Power NI implemented a 6.2% rise in its electricity unit price on July 1.