£1.4 billion NIE Price Increase must be rejected – Flanagan
Sinn Féin Energy Spokesperson Phil Flanagan has said that a proposal by NIE to add a further £1.4 billion to electricity prices must be rejected.
Speaking after a meeting of the Assembly's Enterprise Committee where the issue was discussed, Mr Flanagan said:
“This proposal is sheer madness and the prospect of a further 12.5% rise in prices will terrify many hard pressed consumers and businesses.
“We have already seen massive price hikes in electricity prices recently, and these are being blamed on rising wholesale prices.
“NIE now deem it acceptable to add a further £1.4 billion to electricity prices as part of their investment programme.
“I would urge the Utility Regulator to reject these proposals in the interest of protecting consumers.”