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24/10/2008
Gas Bills Up For Review
There has been an official welcome for news of at least a 'glimmer of hope' for gas users in Northern Ireland.
Following a 19.2% price increase introduced by Phoenix Gas at the beginning of this month - which came after a 28% rise in April - the NI Energy Minister Arlene Foster (pictured) has now welcomed today's announcement by the Utility Regulator to review Phoenix gas prices.
The Minister said: "I have discussed the proposed review with Iain Osborne, the Utility Regulator Chief Executive, and we agreed that a gas price review is appropriate at this time," she said.
"Recent falls in wholesale gas and oil prices have brought changes at the petrol pumps and may have raised consumers' expectations of a reduction in their energy bills.
"However, gas companies, such as Phoenix, advance purchase a large proportion of their gas for the winter period, hence a gas price reduction cannot be assumed," she continued.
However, the Minister concluded: "While there is no guarantee of a cut in gas prices I commend the Utility Regulator for acting swiftly to review prices and for acting in the best interest of the consumer to ensure that any fall in wholesale prices is passed on to householders as soon as is practicable."
She said that the Department will continue to co-operate with the Utility Regulator, Consumer Council, and the industry in relation to the planned review of Phoenix gas prices.
Meanwhile, the Utility Regulator, which approved the new pricing of gas amid much political concern, said it had been monitoring changes in wholesale prices ever since.
Chief Executive Iain Osborne said: "The situation has now changed enough to justify a review of the prices."
But, Mr Osborne warned it was "premature to speculate on the outcome and irresponsible to raise expectations of a price cut this winter".
Previously, a separate review of the electricity price setting process was initiated by the Utility Regulator.
This is now being carried out by the former regulator, Douglas McIldoon, with his report expected in mid November.
(BMcC)
Following a 19.2% price increase introduced by Phoenix Gas at the beginning of this month - which came after a 28% rise in April - the NI Energy Minister Arlene Foster (pictured) has now welcomed today's announcement by the Utility Regulator to review Phoenix gas prices.
The Minister said: "I have discussed the proposed review with Iain Osborne, the Utility Regulator Chief Executive, and we agreed that a gas price review is appropriate at this time," she said.
"Recent falls in wholesale gas and oil prices have brought changes at the petrol pumps and may have raised consumers' expectations of a reduction in their energy bills.
"However, gas companies, such as Phoenix, advance purchase a large proportion of their gas for the winter period, hence a gas price reduction cannot be assumed," she continued.
However, the Minister concluded: "While there is no guarantee of a cut in gas prices I commend the Utility Regulator for acting swiftly to review prices and for acting in the best interest of the consumer to ensure that any fall in wholesale prices is passed on to householders as soon as is practicable."
She said that the Department will continue to co-operate with the Utility Regulator, Consumer Council, and the industry in relation to the planned review of Phoenix gas prices.
Meanwhile, the Utility Regulator, which approved the new pricing of gas amid much political concern, said it had been monitoring changes in wholesale prices ever since.
Chief Executive Iain Osborne said: "The situation has now changed enough to justify a review of the prices."
But, Mr Osborne warned it was "premature to speculate on the outcome and irresponsible to raise expectations of a price cut this winter".
Previously, a separate review of the electricity price setting process was initiated by the Utility Regulator.
This is now being carried out by the former regulator, Douglas McIldoon, with his report expected in mid November.
(BMcC)
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Northern Ireland WeatherToday:The day will be very windy with strong to gale force westerly winds becoming occasionally severe along the north coast. Sunny spells will be interspersed with scattered showers. Maximum temperature 8 °C.Tonight:West to northwest gale force winds, severe along the north coast, will continue overnight. Frequent showers persist, merging into longer periods of rain at times and turning wintry. Minimum temperature 1 °C.
