Speaking at the Energy Institute annual dinner in the Culloden Hotel, the Minister said: “I greatly appreciate the contribution made by Energy Institute members in helping to shape the way ahead, and now encourage them to rise to the challenges which will be set out in the forthcoming Strategic Energy Framework.”
Reflecting on the recent debate around electricity prices, Arlene Foster welcomed the fact that the review of industrial electricity prices announced last November by the Utility Regulator is almost complete and scheduled for publication very shortly.
The Minister added: “I welcome the initial findings of the inquiry and commitments given by the Utility Regulator to help business understand both the drivers behind energy costs, and the offers they are receiving from supply companies.
“It was also very encouraging to learn that the inquiry has highlighted greater levels of competitive offers since the establishment of the Single Electricity Market in 1997, and that the proportion of customers switching supplier has increased significantly in the past three years.”
Welcoming the Minister’s address Dan Sinton, Chairman of the Energy Institute said: "We face many challenges in ensuring Northern Ireland has a secure and sustainable energy future. Some difficult decisions lie ahead in relation to the balance of our generation mix, how to maximise our renewable energy potential and costs to all consumers. The Energy Institute will do all it can to advise and inform the debate and decision making processes."
Notes to editors:
- An inquiry into the communication of electricity prices was announced by the Utility Regulator on 11 November 2009 following concerns raised by a number of companies and bodies representing industry.
- Electricity prices were reduced in January 2009 for both domestic and business consumers as a result of a £100million Public Service Obligation (PSO) rebate. The rebate ended in October 2009, resulting in higher PSO charges which particularly affected larger energy users.
- The Energy Institute (EI) is the leading chartered professional membership body for those working in energy, supporting almost 13,500 professionals internationally.
- EI promotes the safe, environmentally responsible and efficient supply and use of energy in all its forms and applications. In doing so it addresses the depth and breadth of energy and the energy system, from upstream and downstream hydrocarbons and other primary fuels and renewables, to power generation, transmission and distribution to sustainable development, demand side management and energy efficiency.
- For media enquiries, please contact DETI Press Office on 028 90529297. Out of office hours please contact the Duty Press Officer via pager number 07699 715 440 and your call will be returned.
