The Utility Regulator today announced an independent review of the electricity tariff setting process. This development follows an announcement last week by NIE Energy of a 33% increase in electricity prices.
The independent review will be carried out by Mr Douglas McIldoon, formerly the Chairman and Chief Executive of OFREG, and will commence as soon as possible. It is expected that the review will report by mid November.
Independent Review terms of reference and contact arrangements
Commenting on the announcement, Utility Regulator Chief Executive, Iain Osborne, said:
“We are announcing an independent review of the electricity tariff setting process as a direct consequence of concerns expressed about the increase in electricity prices announced last week by NIE Energy.
I hope that the independence of this review will help reinforce public confidence in the regulatory process and show customers that the Utility Regulator is working to protect their interests”.
ENDS
Notes to Editors
# The Northern Ireland Authority for Utility Regulation (the Utility Regulator) is the non-Ministerial Government Department responsible for regulating the electricity and gas industries and water and sewerage services in Northern Ireland.
# A copy of the terms of reference for the review will be made available via the Utility Regulator’s website – www.niaur.gov.uk . A copy of the terms of reference for the review is attached to this e-mail for convenience.
# Media contact Greg Irwin (0779 4335860).