COLLECTIVE ACTION NEEDED BY NEXT WINTER TO PROTECT CONSUMERS FROM RISING ENERGY COSTS, SAYS REGULATOR
Utility Regulator Chief Executive, Iain Osborne, today called for action to address the impact that rising energy prices will have on Northern Ireland consumers, particularly the most vulnerable.
Speaking to the Assembly’s Enterprise, Trade and Investment Committee at Stormont, Mr Osborne said that concerted action by the regulator and Ministers was needed to develop a short and medium term response:
“Upward pressure on costs around the world makes it likely that consumers in Northern Ireland will be affected by high energy prices for some time to come”.
“ Northern Ireland already has the highest rates of fuel poverty in the United Kingdom and there is the prospect that rising energy costs will put more household budgets under real strain”.
Mr Osborne said that:
“Now is the time to have a serious discussion about the next step to meaningfully tackle fuel poverty and this needs political leadership. The regulator will respond constructively, as well as maintaining pressure on locally controllable costs.
We also need to move fast to create some buffers against global energy trends.”
Further information can be viewed or downloaded using the various links below
ETI Committee Briefing 20/04/08
Energy Prices Factsheet - Summary
Energy Prices Factsheet - Full version
Notes to Editors
1.1. 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. Further background information on rising fuel costs can be found on this website
3. Fuel Poverty is defined as follows by the Department of Social Development: ‘A household is in fuel poverty if, in order to maintain an acceptable level of temperature throughout the home, it would have to spend more than 10% of its income on all household fuel’. The most recent Home Energy Conservation Authority (HECA) Report, published in March 2008, indicated that 34% of households in Northern Ireland fell within the definition of fuel poverty.
4. Mr Osborne will be at Stormont on Thursday 24 April to address the Enterprise, Trade and Investment Committee between 11 a.m. and 12 p.m. and is also providing oral evidence at the Agriculture and Rural Development Committee at 1.30 p.m. He is therefore available for interview between 12 and 1.30 p.m. This can be arranged by contacting Greg Irwin - (0779) 4335860.
Media contact - Greg Irwin (0779) 4335860.