The Utility Regulator today said that its scrutiny of energy and water companies last year had secured £16.2 million of efficiency savings for Northern Ireland consumers.
Speaking at the launch of its 2008/09 Annual Report, Peter Matthews, Chairman of the Utility Regulator, said:
“Our regulation facilitates well-run, efficient utility companies that invest wisely for the benefit of Northern Ireland. This in turn achieves our aim of protecting the interests of consumers.
“This scrutiny identified over £13 million of efficiency savings in energy companies, while enhanced efficiency targets in water saved £3.2 million on the overall bill.”
Commenting on current priorities, the Regulator’s Chief Executive, Iain Osborne, highlighted the ongoing consultation on the NI Water price control which proposes a £500 million programme of investment and 11% efficiency savings:
“The price control proposals for NI Water are an example of effective regulation: robust, reducing costs but protecting investment and planning for the future.”
Encouraging competition will continue to remain a focus for the Regulator throughout the coming year. Additional priorities identified include continuing to work through the recommendations of the McIldoon Report and establishing adequate and cost-effective gas switching arrangements.
ENDS
Notes to Editors
1. The Northern Ireland Authority for Utility Regulation (the Utility Regulator) is the non-Ministerial Government Department responsible for regulating the electricity and gas industries and water and sewerage services in Northern Ireland.
2. The consultation on the NI Water price control runs from the 18 September to 6 November. It is expected that the final determination will be published towards the end of December.
3. Media contact Adele Boyle - 028 9031 6343 and 07866 734657.