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Wind NI | Economy Minister Arlene Foster today welcomed the Utility Regulator’s response to her call for an independent review of the electricity price setting process.

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Economy Minister Arlene Foster today welcomed the Utility Regulator’s response to her call for an independent review of the electricity price setting process.

Posted on: September 18th, 2008

Responding to concerns raised about the scale of the electricity price increase, including those expressed by the ETI Committee members, the minister said: “I recognise that the recent price increases were of a scale that has caused real anxiety amongst consumers. In the interests of maintaining public confidence I wrote to the Utility Regulator suggesting that they bring forward proposals for an independent review of the electricity price setting process.”

Arlene Foster continued: “The Utility Regulator has proposed terms of reference for this review which I believe are sufficiently wide to address the major concerns that have been expressed. I am also satisfied that appointing Douglas McIldoon to lead the review, should inspire public confidence in the rigour and independence of the exercise.”

In conclusion the minister said: “I have urged the Utility Regulator to progress the review as a matter of urgency so that everyone can have confidence in the energy price setting process.”