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28/11/2006
Gas customers escape price hike
Gas customers in Northern Ireland are to be spared from a major hike in prices due to a new deal between Phoenix Gas and Ofreg.
Phoenix Gas today confirmed that an agreement has been reached in principle with Ofreg to extend the recovery of the network investment from the current date of 2016 to 2046.
The new deal will not mean that gas bills will be reduced, however Phoenix has said that it does mean "longer-term pricing stability" to the market – eventually saving customers up to £25 million.
So far, Phoenix has spent around £400 million on creating the gas network in Northern Ireland and under the original terms it had until 2016 to recover the costs.
The average household bill for Phoenix comes to around £628, 22% (£138) of which goes towards this.
Commenting on the announcement, Iain Osborne, Chief Executive of Ofreg said that the new proposals were a "significant milestone” in building customer confidence and competition in the natural gas industry and added that the proposed agreement will remove the possibility of a substantial hike in gas network costs.
He continued: "These proposals offer a win-win for customers and Phoenix. The total amount payable by customers has been reduced and for the company it creates a stable basis for future investment and growth."
Peter Dixon, Chief Executive for the Phoenix Group, added that the deal is excellent news for natural gas consumers and for the future development of the natural gas industry in general in Northern Ireland.
He continued: “Subject to the drafting of detailed licence modifications and the outcome of the statutory consultation process, we would hope the new arrangements would be completed during the first half of next year. This brings longer-term pricing stability to a significant element of the end price to natural gas consumers in the Greater Belfast and Larne area and represents a very important milestone for the natural gas industry, ten years into its development.
“I would like to take this opportunity to thank everyone involved in the industry locally for their support and patience during these lengthy negotiations. The natural gas industry will have close to 104,000 connections by the end of 2006 and this agreement will underpin the advances in the Northern Ireland carbon footprint and help to cement the competitiveness of Northern Ireland industry in the global marketplace.”
(EF)
Phoenix Gas today confirmed that an agreement has been reached in principle with Ofreg to extend the recovery of the network investment from the current date of 2016 to 2046.
The new deal will not mean that gas bills will be reduced, however Phoenix has said that it does mean "longer-term pricing stability" to the market – eventually saving customers up to £25 million.
So far, Phoenix has spent around £400 million on creating the gas network in Northern Ireland and under the original terms it had until 2016 to recover the costs.
The average household bill for Phoenix comes to around £628, 22% (£138) of which goes towards this.
Commenting on the announcement, Iain Osborne, Chief Executive of Ofreg said that the new proposals were a "significant milestone” in building customer confidence and competition in the natural gas industry and added that the proposed agreement will remove the possibility of a substantial hike in gas network costs.
He continued: "These proposals offer a win-win for customers and Phoenix. The total amount payable by customers has been reduced and for the company it creates a stable basis for future investment and growth."
Peter Dixon, Chief Executive for the Phoenix Group, added that the deal is excellent news for natural gas consumers and for the future development of the natural gas industry in general in Northern Ireland.
He continued: “Subject to the drafting of detailed licence modifications and the outcome of the statutory consultation process, we would hope the new arrangements would be completed during the first half of next year. This brings longer-term pricing stability to a significant element of the end price to natural gas consumers in the Greater Belfast and Larne area and represents a very important milestone for the natural gas industry, ten years into its development.
“I would like to take this opportunity to thank everyone involved in the industry locally for their support and patience during these lengthy negotiations. The natural gas industry will have close to 104,000 connections by the end of 2006 and this agreement will underpin the advances in the Northern Ireland carbon footprint and help to cement the competitiveness of Northern Ireland industry in the global marketplace.”
(EF)
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Minister to meet Phoenix Gas over price hike
Enterprise Minister, Ian Pearson is planning to meet Phoenix Natural Gas and Centrica next week to press them for a rethink on gas price increases. The Minister met yesterday with the Northern Ireland Authority for Energy Regulation (NIAER) to discuss their report on the circumstances surrounding the price increase announced by Phoenix Natural Gas.
18 February 2003
NI consumers satisfied with natural gas
Price and convenience make natural gas a winner with Northern Ireland’s consumers, the latest NI energy survey has revealed. The latest Gas Watch report by consumers watchdog, the General Consumer Council (GCC) revealed that almost 80% of gas consumers found their costs to be as expected or lower than expected.
NI consumers satisfied with natural gas
Price and convenience make natural gas a winner with Northern Ireland’s consumers, the latest NI energy survey has revealed. The latest Gas Watch report by consumers watchdog, the General Consumer Council (GCC) revealed that almost 80% of gas consumers found their costs to be as expected or lower than expected.
28 August 2014
SSE Airtricity To Freeze Gas Prices
SSE Airtricity has said it is to continue its price freeze for natural gas customers in Northern Ireland until April 2015. The freeze will affect both domestic and small business customers. The announcement follows a half-yearly review by SSE Airtricity and the Utility Regulator.
SSE Airtricity To Freeze Gas Prices
SSE Airtricity has said it is to continue its price freeze for natural gas customers in Northern Ireland until April 2015. The freeze will affect both domestic and small business customers. The announcement follows a half-yearly review by SSE Airtricity and the Utility Regulator.
02 November 2007
Inter-Ireland Gas Pipe Completed
Significant development of the gas industry in five major towns and cities along the route of the new inter-Ireland gas pipe is expected to follow completion of the natural gas interconnection. Antrim, Armagh, Banbridge, Craigavon - including Portadown and Lurgan - and Newry are all expected to benefit from the gas facility.
Inter-Ireland Gas Pipe Completed
Significant development of the gas industry in five major towns and cities along the route of the new inter-Ireland gas pipe is expected to follow completion of the natural gas interconnection. Antrim, Armagh, Banbridge, Craigavon - including Portadown and Lurgan - and Newry are all expected to benefit from the gas facility.
18 October 2012
Gas Storage To Be Built Under Lough
A £440m gas storage facility is to be built a mile underneath Larne Lough. The development will enable 500m cubic metres of natural gas to be stored in caverns underneath the lough. The new bank will be able to hold enough gas to provide energy for Northern Ireland for sixty days.
Gas Storage To Be Built Under Lough
A £440m gas storage facility is to be built a mile underneath Larne Lough. The development will enable 500m cubic metres of natural gas to be stored in caverns underneath the lough. The new bank will be able to hold enough gas to provide energy for Northern Ireland for sixty days.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
