Power NI will raise its residential electricity tariff by 6.2% from 1 July. The Utility Regulator confirmed the change will add £64 a year to a typical credit meter bill and £62 to a keypad meter bill.

Firmus Energy will increase its regulated gas tariff by 15.65% for customers in the Ten Towns network from the same date. The Utility Regulator stated the annual bill for a typical household will rise by £132 for credit meter users and £129 for prepayment meter users.

Both suppliers attributed the increases to higher global wholesale energy prices linked to the Middle East conflict, along with increased network and market charges.

Power NI Director of Customer Solutions William Steele said the company delayed the change as long as possible and that tariffs remain below the average in Great Britain and the Republic of Ireland.

Firmus Energy Director David Smith said the company had previously reduced tariffs three times in the past year, cutting them by over 27% and saving customers around £300 annually on average.

Utility Regulator Head of Security of Supply and Markets Regulation Leigh Greer said the price rises reflect actual wholesale costs and noted that combined regulated electricity and gas tariffs in Northern Ireland will remain lower than the Great Britain price cap and tariffs in Ireland.

Consumer Council representatives Karen Smyth and Raymond Gormley urged customers facing difficulty to contact their suppliers and consider switching payment methods or suppliers to reduce costs.