FSB welcomes drop in electricity prices in the North

The Federation of Small Businesses has today welcomed an announcement by Northern Ireland Electricity that electricity prices are to drop by 3% for small business owners from April 2007.

Wilfred Mitchell, FSB Policy Chairman said: “We welcome the 3% price drop for NIE small business customers – especially as we have been used to prices going up not down, so the FSB are pleased to see this trend reversal”

“However the FSB are disappointed that because of a £40m (€59m) bill to clean up Kilroot power station the reduction is not significantly more, and we urge NIE, the Department of Enterprise, Trade and Investment and Ofreg to continue their efforts to ensure that any additional costs are kept to an absolute minimum.”

“However the FSB is hopeful that the Single Electricity Market due to be introduced on November 1 will bring both security of supply and cheaper tariffs in the future.”

“In the meantime any business owners concerned their costs are too high are encouraged to contact the NIE to ensure they are on the right tariff for their business.”