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05/07/2002
NIE and Ofreg agree further price reductions
Northern Ireland Electricity (NIE) and Ofreg (the Northern Ireland electricity regulator) have reached an agreement on NIE’s Transmission and Distribution Price Control.
Under the agreement, which will cover the five-year period April 2002 to 2007, electricity customers are likely to see a year-on-year reduction in charges, while NIE will invest £227 million in the local electricity infrastructure.
The agreed review also includes incentive formulas for NIE to develop and deliver environmental and energy efficiency programmes, which will help customers reduce their electricity consumption, and therefore their total energy bill.
NIE Managing Director Harry McCracken said: “This price control seeks to bring into closer alignment the interests of customers and investors: this is an objective we fully support.
“The agreement will mean that NIE customers will see further reductions in electricity charges while we will continue to invest in the network and in ensuring customer standards are maintained and improved.
“We welcome the aspect of this agreement which will allow NIE to make a long term commitment to environmental issues, energy efficiency and a range of other measures which will deliver permanent benefits to customers and the Northern Ireland environment and society at large.”
Recently electricity regulator, Ofreg revised its original estimate and offered NIE an alternative option in its original five yearly review which would cut average electricity bills by £6 a year.
Ofreg regulator Douglas McIldoon recently made this final proposal following NIE objections to his previous report in March after claiming initial proposals to reduce bills by a much bigger £27 would lead to job losses and blackouts.
NIE had said these proposals would not allow them to continue to refurbish their rural network and would result in not enough lines to deal with storms and emergencies. However, Mr McIldoon said his new report would alleviate any difficulties that NIE originally had.
(MB)
Under the agreement, which will cover the five-year period April 2002 to 2007, electricity customers are likely to see a year-on-year reduction in charges, while NIE will invest £227 million in the local electricity infrastructure.
The agreed review also includes incentive formulas for NIE to develop and deliver environmental and energy efficiency programmes, which will help customers reduce their electricity consumption, and therefore their total energy bill.
NIE Managing Director Harry McCracken said: “This price control seeks to bring into closer alignment the interests of customers and investors: this is an objective we fully support.
“The agreement will mean that NIE customers will see further reductions in electricity charges while we will continue to invest in the network and in ensuring customer standards are maintained and improved.
“We welcome the aspect of this agreement which will allow NIE to make a long term commitment to environmental issues, energy efficiency and a range of other measures which will deliver permanent benefits to customers and the Northern Ireland environment and society at large.”
Recently electricity regulator, Ofreg revised its original estimate and offered NIE an alternative option in its original five yearly review which would cut average electricity bills by £6 a year.
Ofreg regulator Douglas McIldoon recently made this final proposal following NIE objections to his previous report in March after claiming initial proposals to reduce bills by a much bigger £27 would lead to job losses and blackouts.
NIE had said these proposals would not allow them to continue to refurbish their rural network and would result in not enough lines to deal with storms and emergencies. However, Mr McIldoon said his new report would alleviate any difficulties that NIE originally had.
(MB)
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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.
