The Utility Regulator today publishes its price control determination for Phoenix Natural Gas Ltd (PNGL), the owner and operator of the gas distribution network in Greater Belfast and Larne.
The price control sets an efficient level of revenue to allow PNGL to finance the ongoing build and operation of its gas network, following scrutiny by the Utility Regulator, for the period 2012-2013.
Our price control decision will lead to lower business and domestic consumer prices, the impact of this will be seen in bills from 2013. For larger business consumers this means an estimated ongoing annual saving of tens of thousands of pounds on gas bills. This will also mean that, for the average domestic consumer, there will be around a GBP10 per annum saving on gas bills. Compared to the PNGL proposals our price control will lead to consumer bills that will be around GBP25 lower per annum.
The publication of the price control follows a period of public consultation on a draft version of the document. Eight responses were received and can be viewed below.
Each response has been carefully considered. A detailed response from the Utility Regulator in respect of the main points raised in each can be seen here.
In order to implement the Regulator’s price control determination, it will be necessary to modify the PNGL licence. The proposed licence modification is therefore also published today for consultation. The proposed modification and the price control determination document should be viewed as a unified set of price control decisions.
Representations or objections with respect to the proposed licence modification may be made on or before 5.00 pm on 7 February 2012 to:
The Utility Regulator
14 Queen Street