Mr Flanagan, who is also the Deputy Chair of the Enterprise, Trade & Investment Committee, said that this determination has justified the stance taken by the Utility Regulator as gas customers will now save over £19 million in the coming years.
Speaking today, Mr Flanagan said:
"That this process of uncertainty has come to an end and a final determination has been reached is to be welcomed.
"The determination by the Competition Commission largely justifies the stance taken by the Utility Regulator and gas customers can now look forward to a net reduction in costs of over £19 million compared with the original demands from Phoenix Gas.
"The Utility Regulator is to be commended for continuing to protect the needs of consumers in a non-competitive gas market and seeking to strike a balance between the needs of customers and delivering a fair return for investors."