Consumer Council welcomes Competition Commission’s fifth price control for NIE network tariffs
The Consumer Council has welcomed the Competition Commission’s final determination which sets the cost to be paid for electricity by consumers over the next three years.
Speaking about the determination, Consumer Council Interim CEO Aodhan O’Donnell said; “Consumers will be pleased that this process is finally coming to an end and take some comfort that bills will be £10 lower by 2017. NIE has also been asked to refund consumers for the period since April 2012 when this price control was originally due to come into force. Importantly though, the Determination has also introduced a new model which means that there will be a fairer distribution of risk between consumers and shareholders.
Aodhan continues; “The cost of energy is the number one concern for both domestic and business consumers who expect the lowest possible price for their electricity but also need assurance that the lights won’t go out. Consumers should be reassured that NIE’s spending plans have been scrutinised not only by the NI Regulator but also by the Competition Commission.
“The Consumer Council also welcomes the fact that consumers will benefit from greater transparency in the Price Control process. We expect to see consumers more involved in the new regulatory model which the Consumer Council lobbied for. This will provide an opportunity to engage consumers earlier in the process to ensure their priorities are reflected in spending decisions.
“The Consumer Council will continue to represent consumers and work with the Regulator and NIE on future price controls,” concluded Aodhan.
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