Regulator welcomes stability in electricity prices

14 September 2010

The Utility Regulator today welcomed the news that the regulated electricity supplier, NIE Energy Supply, is to make no change to its prices.

Chief Executive, Iain Osborne said:

“Given the ongoing volatility in the wholesale energy market, no change to electricity prices is a welcome outcome for households, especially as we enter the winter months. I am also conscious of the broader context where underlying wholesale prices are unstable, but have trended upwards in recent months, and electricity prices are going up in the Republic of Ireland and in some parts of GB.

“While today’s announcement is good news for consumers, the future for electricity prices remains uncertain. We will continue to monitor the situation and scrutinise tariff proposals to ensure electricity bills are kept as low as possible. Meanwhile, many customers now have a competitive choice, and we look to see competition in energy supply continuing to develop.”

Today’s announcement is part of the annual tariff review that is undertaken by NIEES and the Utility Regulator, in consultation with the Department of Enterprise, Trade and Investment, and the Consumer Council for Northern Ireland.

ENDS
For further information, contact Adele Boyle on 028 9031 6343 or 07794 965922.

Notes to Editors
• The Utility Regulator (Northern Ireland Authority for Utility Regulation) is the independent non-Ministerial Government Department responsible for regulating the electricity and gas industries and water and sewerage services in Northern Ireland.
• A Q&A document provides additional information on the tariff announcement, while the regulatory briefing paper provides the reasoning behind the Utility Regulator’s decision.