Northern Ireland’s largest provider of natural gas, SSE Airtricity, is to increase its prices by almost 19% from 1 October for its 200,000 domestic and small business customers.
It means the annual gas bill of a typical household in the greater Belfast and west gas network areas will increase by almost £172.
The company said “unprecedented levels of volatility in global energy markets and higher wholesale gas prices” had led to the price rise.
Wholesale gas prices in the UK have effectively doubled since the US and Israel began their attack on Iran.
Colin Broomfield from the Utility Regulator said the increase would be “difficult news for many households and small businesses, particularly at a time when wider cost pressures remain a concern”.
Glenn Davis owns The Upper Crust restaurant in the centre of Larne, along with his wife.
He said energy price rises were putting a lot of pressure on small businesses.
“We are a daytime restaurant running six days a week and our gas bill is already sitting at about £400.
“We are also paying about £500 a week electric, so between the two it is getting hard to contend with,” he said.
“It is a tough environment, I’m in the trade 30 years and this is as tough as it’s been.
“All these rises are putting a lot of pressure on business in general but for small businesses and high street businesses it is just putting more and more pressure on.”