19/11/2015
Energy Costs For Businesses Discussed
The Enterprise Minister has met with NIE Networks, System Operator for NI (SONI) and the Utility Regulator to discuss concerns about energy costs for businesses in Northern Ireland.
Minister Jonathon Bell called the meeting following job losses in the manufacturing sector.
Minister Bell said: "The fact that the main element of electricity costs - wholesale prices - is set on global markets puts a significant constraint on what we can do.
"One thing that would make a huge difference is a second North-South Interconnector, which could reduce annual electricity curtailment costs by £20 million. We all need to do everything we can to get behind bringing it to fruition.
"While energy costs are of course more significant for some businesses, our overall business costs are lower than our neighbours - on average about 84% of those in the UK and 95% of those in the Republic of Ireland. In most cases, lower labour and property costs counteract the disadvantages on energy and transportation costs.
"Electricity bills for our largest users are lower than the UK average at the moment, while most people's electricity bills are around the EU average and a recent report ranked NI 17th out of 151 countries in terms of quality of electricity supply.
"We have some of the cheapest gas prices in Europe and the Executive is already putting nearly £30million to extend the gas network so more people and businesses will have greater choice of fuel."
(CD/JP)
Minister Jonathon Bell called the meeting following job losses in the manufacturing sector.
Minister Bell said: "The fact that the main element of electricity costs - wholesale prices - is set on global markets puts a significant constraint on what we can do.
"One thing that would make a huge difference is a second North-South Interconnector, which could reduce annual electricity curtailment costs by £20 million. We all need to do everything we can to get behind bringing it to fruition.
"While energy costs are of course more significant for some businesses, our overall business costs are lower than our neighbours - on average about 84% of those in the UK and 95% of those in the Republic of Ireland. In most cases, lower labour and property costs counteract the disadvantages on energy and transportation costs.
"Electricity bills for our largest users are lower than the UK average at the moment, while most people's electricity bills are around the EU average and a recent report ranked NI 17th out of 151 countries in terms of quality of electricity supply.
"We have some of the cheapest gas prices in Europe and the Executive is already putting nearly £30million to extend the gas network so more people and businesses will have greater choice of fuel."
(CD/JP)
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.
25 March 2002
Gas pipeline will increase electricity costs to consumers
Assembly member Seamus Close has branded the proposed gas pipeline as unaffordable luxury for the taxpayer. Mr Close a member of the Assembly's Public Accounts Committee (PAC) was responding to the Minister of Finance and Personnel’s open letter to him on the proposed provision of a North/South and East/West Pipeline.
Gas pipeline will increase electricity costs to consumers
Assembly member Seamus Close has branded the proposed gas pipeline as unaffordable luxury for the taxpayer. Mr Close a member of the Assembly's Public Accounts Committee (PAC) was responding to the Minister of Finance and Personnel’s open letter to him on the proposed provision of a North/South and East/West Pipeline.
31 August 2026
SSE Airtricity To Raise Gas Tariff By 19.2% From October
SSE Airtricity will lift its gas tariff by 19.2% from 1 October 2026. The rise will affect roughly 204,000 domestic customers across the Greater Belfast and West gas networks, as well as around 4,500 small commercial customers. For a typical household, the change will add about £174 a year to bills for those on credit meters.
SSE Airtricity To Raise Gas Tariff By 19.2% From October
SSE Airtricity will lift its gas tariff by 19.2% from 1 October 2026. The rise will affect roughly 204,000 domestic customers across the Greater Belfast and West gas networks, as well as around 4,500 small commercial customers. For a typical household, the change will add about £174 a year to bills for those on credit meters.
02 November 2004
Rising costs sees Powergen announce price hikes
Powergen has announced price hikes for electricity and gas customers due to "unparalleled" rises in wholesale costs, it has emerged today. The energy company confirmed today that it will increase electricity prices by 8.9% and gas prices by 9.6% for the majority of its residential customers. The changes will be effective from November 29.
Rising costs sees Powergen announce price hikes
Powergen has announced price hikes for electricity and gas customers due to "unparalleled" rises in wholesale costs, it has emerged today. The energy company confirmed today that it will increase electricity prices by 8.9% and gas prices by 9.6% for the majority of its residential customers. The changes will be effective from November 29.
26 May 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.
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.
-
Northern Ireland WeatherToday:Variable amounts of cloud and some bright or sunny spells. There will be scattered showers, these becoming fewer later in the afternoon. Windy with fresh occasionally strong westerly winds. Maximum temperature 16 °C.Tonight:Mainly dry this evening with just the odd passing shower. Then the rest of the night will be dry. Westerly winds easing down, but remaining fresh along the north coast. Minimum temperature 11 °C.