Airtricity hiking its prices by 18 per cent from this July

NORTHERN Ireland’s second biggest electricity supplier has announced it is increasing prices by 17.8 per cent from July 1, 2013.

The move by Airtricity matches a similar decision by Power NI which is hiking its prices by 18 per cent from the same date.

Airtricity said it could not continue to absorb the large increase in wholesale costs.

“We very much regret the need to increase our prices,” the company’s managing director Stephen Wheeler said.

“As the utility regulator has pointed out, local prices are vulnerable to the rising energy costs on the international markets and those costs have remained high.

“Airtricity remains committed to offering a fair price for the energy we supply and providing a range of practical and financial support measures for those struggling to pay their bills.

“We recognise that this type of electricity price volatility presents significant difficulty for customers in managing their household budget and we would welcome greater stability in the management of regulated tariffs.”

Power NI said last week that it was in response to world fuel costs over which the firm had no control.