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18/04/2003
Energy Strategy receives a guarded welcome
The Federation of Small Businesses (FSB) and Northern Ireland Electricity (NIE) have given a cautious welcome to the publication of Government’s draft Energy Strategy.
FSB NI Energy Spokesperson Wesley Wilkinson said: “The Federation welcomes the publication of the draft Energy Strategy. We are particularly pleased with the Government’s focus on addressing the high cost of energy. However, it is very unclear how the strategy will reduce these costs. In particular, we are disappointed that there is no reference to using a legislative mechanism to reduce the cost of borrowing for consumers in the energy industry. This is a missed opportunity.
“Legislation for a low-cost borrowing mechanism would enable a one-percentage point reduction in the cost of servicing capital tied up in the energy industry. This represents an annual £1 million customer saving on every £100 million of debt.
“Enterprise Minister Ian Pearson has expressed his support for the proposal. We understand that the preparation for the necessary legislation is at an advanced stage so why is there no mention of it in the draft Energy Strategy?"
Mr Wilkinson said NI electricity bills were amongst the highest in Europe and he was concerned that the proposals in the draft Energy Strategy may or may not address the high cost of energy.
He added: “This is something the Government can actually do something about. The low-cost borrowing mechanism provides a local solution to a local problem. Ministers should act now to implement the necessary legislation.”
Northern Ireland Electricity also welcomed the Energy Strategy consultation.
NIE spokesperson Robin Greer said: “We welcome the thorough way in which the minister and the department is conducting this consultation, and hope that the outcome will be a realistic and defined energy strategy. This is essential if industry is to be able to plan for the large scale expenditure necessary to create the energy infrastructure that encourages investment and delivers sustainable benefits to customers."
Mr Greer said that by 2007 NIE would have reduced charges to customers by 45% in real terms since privatisation in 1992.
He said that NIE would continue to ask for focus on “Northern Ireland’s uncompetitive electricity generation charges and to ensure that no further unnecessary additional charges were made on NI electricity users".
Mr Wilkinson warned that the Energy Strategy was not the only pressure on local businesses: “We also have to look at this in the context of other pressures that affect small businesses such as rates, high insurance and the recent National Insurance Increase. This low-cost borrowing mechanism will give hard-pushed small businesses some relief from mounting costs.”
(SP)
FSB NI Energy Spokesperson Wesley Wilkinson said: “The Federation welcomes the publication of the draft Energy Strategy. We are particularly pleased with the Government’s focus on addressing the high cost of energy. However, it is very unclear how the strategy will reduce these costs. In particular, we are disappointed that there is no reference to using a legislative mechanism to reduce the cost of borrowing for consumers in the energy industry. This is a missed opportunity.
“Legislation for a low-cost borrowing mechanism would enable a one-percentage point reduction in the cost of servicing capital tied up in the energy industry. This represents an annual £1 million customer saving on every £100 million of debt.
“Enterprise Minister Ian Pearson has expressed his support for the proposal. We understand that the preparation for the necessary legislation is at an advanced stage so why is there no mention of it in the draft Energy Strategy?"
Mr Wilkinson said NI electricity bills were amongst the highest in Europe and he was concerned that the proposals in the draft Energy Strategy may or may not address the high cost of energy.
He added: “This is something the Government can actually do something about. The low-cost borrowing mechanism provides a local solution to a local problem. Ministers should act now to implement the necessary legislation.”
Northern Ireland Electricity also welcomed the Energy Strategy consultation.
NIE spokesperson Robin Greer said: “We welcome the thorough way in which the minister and the department is conducting this consultation, and hope that the outcome will be a realistic and defined energy strategy. This is essential if industry is to be able to plan for the large scale expenditure necessary to create the energy infrastructure that encourages investment and delivers sustainable benefits to customers."
Mr Greer said that by 2007 NIE would have reduced charges to customers by 45% in real terms since privatisation in 1992.
He said that NIE would continue to ask for focus on “Northern Ireland’s uncompetitive electricity generation charges and to ensure that no further unnecessary additional charges were made on NI electricity users".
Mr Wilkinson warned that the Energy Strategy was not the only pressure on local businesses: “We also have to look at this in the context of other pressures that affect small businesses such as rates, high insurance and the recent National Insurance Increase. This low-cost borrowing mechanism will give hard-pushed small businesses some relief from mounting costs.”
(SP)
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