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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)
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Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
