diff --git a/src/Cardano/CLI/Run/Friendly.hs b/src/Cardano/CLI/Run/Friendly.hs
index 248115dbf8..f35a1e4c4f 100644
--- a/src/Cardano/CLI/Run/Friendly.hs
+++ b/src/Cardano/CLI/Run/Friendly.hs
@@ -235,6 +235,7 @@ friendlyProtocolParametersUpdate
     , protocolUpdateMaxTxExUnits
     , protocolUpdateMaxValueSize
     , protocolUpdatePrices
+    , protocolUpdateUTxOCostPerByte
     } =
   object . catMaybes $
     [ protocolUpdateProtocolVersion <&> \(major, minor) ->
@@ -262,7 +263,7 @@ friendlyProtocolParametersUpdate
         ("monetary expansion" .=) . friendlyRational
     , protocolUpdateTreasuryCut <&> ("treasury expansion" .=) . friendlyRational
     , protocolUpdateUTxOCostPerWord <&>
-        ("UTxO storage cost per unit" .=) . friendlyLovelace
+        ("UTxO storage cost per word" .=) . friendlyLovelace
     , protocolUpdateCollateralPercent <&>
         ("collateral inputs share" .=) . (<> "%") . textShow
     , protocolUpdateMaxBlockExUnits <&> ("max block execution units" .=)
@@ -270,6 +271,8 @@ friendlyProtocolParametersUpdate
     , protocolUpdateMaxTxExUnits <&> ("max transaction execution units" .=)
     , protocolUpdateMaxValueSize <&> ("max value size" .=)
     , protocolUpdatePrices <&> ("execution prices" .=) . friendlyPrices
+    , protocolUpdateUTxOCostPerByte <&>
+        ("UTxO storage cost per byte" .=) . friendlyLovelace
     ]
 
 friendlyPrices :: ExecutionUnitPrices -> Aeson.Value
diff --git a/src/Cardano/CLI/Shelley/Parsers.hs b/src/Cardano/CLI/Shelley/Parsers.hs
index 45eec8be4b..aa17c3bce0 100644
--- a/src/Cardano/CLI/Shelley/Parsers.hs
+++ b/src/Cardano/CLI/Shelley/Parsers.hs
@@ -2903,6 +2903,7 @@ pProtocolParametersUpdate =
     <*> optional pMaxValueSize
     <*> optional pCollateralPercent
     <*> optional pMaxCollateralInputs
+    <*> optional pUTxOCostPerByte
 
 pCostModels :: Parser FilePath
 pCostModels =
@@ -3062,6 +3063,14 @@ pUTxOCostPerWord =
       <> Opt.help "Cost in lovelace per unit of UTxO storage (from Alonzo era)."
       )
 
+pUTxOCostPerByte :: Parser Lovelace
+pUTxOCostPerByte =
+    Opt.option (readerFromParsecParser parseLovelace)
+      (  Opt.long "utxo-cost-per-byte"
+      <> Opt.metavar "LOVELACE"
+      <> Opt.help "Cost in lovelace per unit of UTxO storage (from Babbage era)."
+      )
+
 pExecutionUnitPrices :: Parser ExecutionUnitPrices
 pExecutionUnitPrices = ExecutionUnitPrices
   <$> Opt.option readRational
diff --git a/test/data/golden/alonzo/transaction-view.out b/test/data/golden/alonzo/transaction-view.out
index eed7291edb..be86302fa9 100644
--- a/test/data/golden/alonzo/transaction-view.out
+++ b/test/data/golden/alonzo/transaction-view.out
@@ -18,7 +18,7 @@ update proposal:
   updates:
   - genesis key hash: 1bafa294233a5a7ffbf539ae798da0943aa83d2a19398c2d0e5af114
     update:
-      UTxO storage cost per unit: 194 Lovelace
+      UTxO storage cost per word: 194 Lovelace
       collateral inputs share: 200%
       execution prices:
         memory: 196/197