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26/03/2002
NIE respond to Ofreg report by freezing tariffs
Following the publication of an Ofreg report Northern Ireland Electricity (NIE) has responded by announcing that electricity prices will be frozen across all tariffs.
A spokesperson for NIE confirmed that the tariff freeze would be maintained until the current Ofreg review of the company's Transmission and Distribution (T&D) network was completed by the electricity regulator.
However, NIE reminded customers that there already are a number of measures domestic and business customers can undertake to reduce their bills.
Corporate Communications Manager Robin Greer said: "There are a range of simple measures that can add up to significant savings for many customers. These include signing up to Direct Debit, and using energy more efficiently. Businesses can also cut electricity costs by ensuring that they are on the appropriate tariffs and, for businesses, offsetting the Climate Change Levy tax."
He said that customers paying by Direct Debit could save £10 off their yearly electricity bill. Businesses get 4 per cent discount off their bill, which is equivalent to two week's free electricity every year.
NIE's advice to business customers includes a free tariff check and help to change to the most appropriate tariff. NIE' claim that their 'Weekender' tariff has led to a reduction in bills for many SME business customers with long opening hours.
Businesses may also be able to offset the government imposed Climate Change Levy 'tax' of about 5 per cent extra on electricity bills. As the 'tax' only applies to electricity with 17.5 per cent VAT, if a business uses less than 3,003 units a quarter about £320, then the business pays 5 per cent VAT and is therefore exempt from the levy.
Nursing homes and other premises that are used for residential purposes may also be eligible to pay VAT at the lower 5 per cent rate and avoid the levy. Businesses that sign up to NIE's government-accredited 'Eco Energy', which supplies electricity from local non-polluting and renewable sources, are exempt from the tax.
Mr Greer said that a formal response would be issued when Ofreg's initial proposals on NIE's (T&D) regulatory price review had been examined in detail.
He added that NIE would "hope to continue to work constructively with Ofreg in order to reach an agreement that is equitable to both customers and shareholders".
(SP)
A spokesperson for NIE confirmed that the tariff freeze would be maintained until the current Ofreg review of the company's Transmission and Distribution (T&D) network was completed by the electricity regulator.
However, NIE reminded customers that there already are a number of measures domestic and business customers can undertake to reduce their bills.
Corporate Communications Manager Robin Greer said: "There are a range of simple measures that can add up to significant savings for many customers. These include signing up to Direct Debit, and using energy more efficiently. Businesses can also cut electricity costs by ensuring that they are on the appropriate tariffs and, for businesses, offsetting the Climate Change Levy tax."
He said that customers paying by Direct Debit could save £10 off their yearly electricity bill. Businesses get 4 per cent discount off their bill, which is equivalent to two week's free electricity every year.
NIE's advice to business customers includes a free tariff check and help to change to the most appropriate tariff. NIE' claim that their 'Weekender' tariff has led to a reduction in bills for many SME business customers with long opening hours.
Businesses may also be able to offset the government imposed Climate Change Levy 'tax' of about 5 per cent extra on electricity bills. As the 'tax' only applies to electricity with 17.5 per cent VAT, if a business uses less than 3,003 units a quarter about £320, then the business pays 5 per cent VAT and is therefore exempt from the levy.
Nursing homes and other premises that are used for residential purposes may also be eligible to pay VAT at the lower 5 per cent rate and avoid the levy. Businesses that sign up to NIE's government-accredited 'Eco Energy', which supplies electricity from local non-polluting and renewable sources, are exempt from the tax.
Mr Greer said that a formal response would be issued when Ofreg's initial proposals on NIE's (T&D) regulatory price review had been examined in detail.
He added that NIE would "hope to continue to work constructively with Ofreg in order to reach an agreement that is equitable to both customers and shareholders".
(SP)
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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.
