Menu
26/05/2010
Competition Sparks NI Electricity Market
A Republic of Ireland energy firm will begin selling power to households in Northern Ireland from June.
Airtricity will be the first company to compete with NIE Energy in the domestic electricity market.
The Stormont Enterprise Minister Arlene Foster, pictured with Airtricty Managing Director, Kevin Greenhorn as the Energy Supplier announced its entry into the NI consumer electricity market, has said that she welcomed the move, announced on Tuesday.
The Minister said: "This is welcome news for domestic electricity customers, who for the first time will be able to choose their electricity supplier."
The electricity market in Northern Ireland has actually been fully opened to competition since 1 November 2007, and while there has been customer switching in the business sector, domestic customers have had no alternative to NIE Energy, as their electricity supplier.
Arlene Foster continued: "The announcement by Airtricity is proof that the Single Electricity Market has delivered transparency and increased electricity supply competition for domestic customers, in Northern Ireland.
"Customers will be able to compare electricity costs and levels of service being offered before choosing their electricity supplier," she said.
The Dublin-based company claimed that its entry into the NI market will create 75 jobs, a number that it said will rise as its business grows.
The firm also said it is expected that it will initially undercut prices by about 14% and that the discount is expected to stay in place for at least 12 months and will cut the average household bill from £500 to £430.
A spokesperson for the existing generator NIE said that it recognised a new entrant to the domestic market gave customers more choice.
"We have been preparing for a more competitive environment for some time. Last year we reduced our prices by 15% and we are due to make another pricing announcement within the next few months."
(BMcC/GK)
Airtricity will be the first company to compete with NIE Energy in the domestic electricity market.
The Stormont Enterprise Minister Arlene Foster, pictured with Airtricty Managing Director, Kevin Greenhorn as the Energy Supplier announced its entry into the NI consumer electricity market, has said that she welcomed the move, announced on Tuesday.
The Minister said: "This is welcome news for domestic electricity customers, who for the first time will be able to choose their electricity supplier."
The electricity market in Northern Ireland has actually been fully opened to competition since 1 November 2007, and while there has been customer switching in the business sector, domestic customers have had no alternative to NIE Energy, as their electricity supplier.
Arlene Foster continued: "The announcement by Airtricity is proof that the Single Electricity Market has delivered transparency and increased electricity supply competition for domestic customers, in Northern Ireland.
"Customers will be able to compare electricity costs and levels of service being offered before choosing their electricity supplier," she said.
The Dublin-based company claimed that its entry into the NI market will create 75 jobs, a number that it said will rise as its business grows.
The firm also said it is expected that it will initially undercut prices by about 14% and that the discount is expected to stay in place for at least 12 months and will cut the average household bill from £500 to £430.
A spokesperson for the existing generator NIE said that it recognised a new entrant to the domestic market gave customers more choice.
"We have been preparing for a more competitive environment for some time. Last year we reduced our prices by 15% and we are due to make another pricing announcement within the next few months."
(BMcC/GK)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
25 September 2003
Minister announces £30m electricity initiative
Enterprise Minister, Ian Pearson has announced plans to invest £30 million in a new initiative aimed at reducing electricity bills for Northern Ireland's businesses. It is hoped that the funding, which is part of a draft budget, will help businesses save 10% on their electricity bills.
Minister announces £30m electricity initiative
Enterprise Minister, Ian Pearson has announced plans to invest £30 million in a new initiative aimed at reducing electricity bills for Northern Ireland's businesses. It is hoped that the funding, which is part of a draft budget, will help businesses save 10% on their electricity bills.
01 November 2001
Energia charges ahead in competitive electricity supply
Energia, the independent electricity supply company in Ireland, has announced that it is to serve the electrical energy needs of 40 per cent of Irish companies eligible to freely choose their power provider in the year ahead.
Energia charges ahead in competitive electricity supply
Energia, the independent electricity supply company in Ireland, has announced that it is to serve the electrical energy needs of 40 per cent of Irish companies eligible to freely choose their power provider in the year ahead.
30 August 2001
nevada tele.com ‘logs’ on to eco energy
Leading business telecommunications and Internet provider nevada tele.com have become Northern Ireland’s first ‘e-nvironmentally’ friendly telecoms and internet company by logging onto green electricity, Eco Energy.
nevada tele.com ‘logs’ on to eco energy
Leading business telecommunications and Internet provider nevada tele.com have become Northern Ireland’s first ‘e-nvironmentally’ friendly telecoms and internet company by logging onto green electricity, Eco Energy.
17 January 2002
Electricity regulator criticised for ‘failing’ customers
Energy regulator Ofgem has come under attack for ‘failing’ to look after the interests of customers in the domestic electricity market. A new report from the House of Commons’ public accounts committee (PAC) has criticised Ofgem for not doing enough to ensure that customers can avail of the best methods of paying for their electricity.
Electricity regulator criticised for ‘failing’ customers
Energy regulator Ofgem has come under attack for ‘failing’ to look after the interests of customers in the domestic electricity market. A new report from the House of Commons’ public accounts committee (PAC) has criticised Ofgem for not doing enough to ensure that customers can avail of the best methods of paying for their electricity.
27 May 2010
Competition Up As Irish Energy Prices Fall
Irish Energy Minister Eamon Ryan has welcomed the results of the SEAI's latest 'Electricity and Gas Prices In Ireland' report. The Eurostat data shows recent reductions in electricity and gas prices are bringing Ireland's energy costs closer in line with and, in some cases below European averages.
Competition Up As Irish Energy Prices Fall
Irish Energy Minister Eamon Ryan has welcomed the results of the SEAI's latest 'Electricity and Gas Prices In Ireland' report. The Eurostat data shows recent reductions in electricity and gas prices are bringing Ireland's energy costs closer in line with and, in some cases below European averages.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
