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McLaughlin calls on Phoenix Gas and NIE to follow example of Bord Gáis and ESB

21 November, 2008

Sinn Féin Economy Spokesperson Mitchel McLaughlin MLA (South Antrim) has called on Phoenix Gas and NIE to follow the example of Bord Gáis and ESB and reconsider recent price increase announcements.

Mitchel McLaughlin said:

"ESB and Bord Gáis have announced that the price increases for gas and electricity which had been expected in January are unlikely to go ahead.

"This follows the significant fall in world market prices for oil and natural gas. The price of oil now stands at a three-year low of $48 a barrel almost $100 a barrel less than July's peak of $147. The price of natural gas has also fallen by 60% from a peak reached earlier this year.

"I would urge Phoenix Gas and NIE to show the same corporate consciousness and reconsider their recent price increases. If they do not do so voluntarily then I would urge the Minister, Arlene Foster and the regulator to consider ways of insisting that these increases are rolled back." ENDS

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