A significant hike in electricity costs was announced by Power NI, formerly Northern Ireland Electricity, late in May.
The 17.8% price hike is set to come in on July 1st – no hanging around there. Small businesses and farmers also face the 17.8% increase, along with ordinary households.
Surely it is hard to justify such an increase in a time of nearly flat inflation. Power NI's managing director said they regretted the increase but added that it was in response to world fuel costs over which the firm had no control. No doubt the price hike helps keep company profits at a healthy margin.
It sure doesn’t help households , small businesses or farmers.
