In response to the rejection of our price control and proposed licence modification by Phoenix Natural Gas Limited (PNGL), a spokesperson for the Utility Regulator said:
The Utility Regulator can confirm that PNGL has rejected our price control determination and proposed licence modification.
Our price control decision balances the interests of consumers and PNGL. Our decision will lead to lower business and domestic consumer prices. For larger business consumers this means an estimated ongoing annual saving of tens of thousands of pounds on gas bills. This will also mean that, for the average domestic consumer, there will be a £10 per annum saving on gas bills. Compared to the PNGL proposals our price control will lead to domestic consumer bills that will be £25 lower per annum.
We now have 56 days to decide whether to make a reference to the Competition Commission for determination.
For further information, please contact Adele Boyle on 028 9031 6343 or 07794 965922