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| Consumers face 30% gas rate hike | Consumers face 30% gas rate hike |
| (about 2 hours later) | |
| Consumers in Northern Ireland are facing a £200 annual rise in their gas bills. | Consumers in Northern Ireland are facing a £200 annual rise in their gas bills. |
| Last spring householders were feeling well off thanks to a booming housing market, and low interest rates. | Last spring householders were feeling well off thanks to a booming housing market, and low interest rates. |
| This time last year Phoenix gas cut prices by 14% and was talking of further reductions. | This time last year Phoenix gas cut prices by 14% and was talking of further reductions. |
| Later, the company will brief journalists on what could be a whopping 30% increase, with the blame going on the rising wholesale cost of gas. | |
| The fact that oil prices have soared to more than US$ 120 a barrel will also be presented as evidence of the price pressures on energy suppliers. | The fact that oil prices have soared to more than US$ 120 a barrel will also be presented as evidence of the price pressures on energy suppliers. |
| On Wednesday the BBC was quoted £519 for 900 litres of central heating oil, and in the last two weeks alone there have been six price increases in the cost of oil. | On Wednesday the BBC was quoted £519 for 900 litres of central heating oil, and in the last two weeks alone there have been six price increases in the cost of oil. |
| Well even the experts in the oil and gas industry do not seem to know when it will all end. | Well even the experts in the oil and gas industry do not seem to know when it will all end. |
| Some hope that falling demand during the summer months will discourage the speculators who have been helping drive prices ever higher. | Some hope that falling demand during the summer months will discourage the speculators who have been helping drive prices ever higher. |
| On Friday the Assembly's Enterprise and Trade Committee will meet to discuss the escalating energy price crisis. | On Friday the Assembly's Enterprise and Trade Committee will meet to discuss the escalating energy price crisis. |
| But there is no pot of money there to shield consumers here from the full impact of what is happening in world markets. | But there is no pot of money there to shield consumers here from the full impact of what is happening in world markets. |
| Just as the credit crunch shows signs of slackening, this potentially much bigger problem has now appeared. | Just as the credit crunch shows signs of slackening, this potentially much bigger problem has now appeared. |
| Meanwhile, Firmus which supplies more than 3,000 customers in towns and cities across Northern Ireland has confirmed that it will hold prices at current levels. | |
| The company says it will maintain the cap on prices until the end of 2008. |