Electricity costs a big concern in NI

#manufacturing #mfg #engineering #electricity @BusinessNewsNI Manufacturing Northern Ireland has said that its members are facing the second highest electricity prices in Europe.

As a result, they are losing competitiveness, investment and jobs for the local economy. Responding to a report published earlier this month by the Assembly Committee for Enterprise, Trade and Investment, the organisation said that there must be a review to consider how generation costs can be made more transparent by the Single Electricity Market Operator — and that the transparency of network charges must be improved.

The Assembly Committee said that it is concerned about the cost of electricity to the large industrial and commercial consumers. “High electricity prices for these large users could result in some not being able to expand their businesses to create jobs. Some may come off the National Grid and generate their own electricity, resulting in network charges being increased for all other users.

Some large users may leave Northern Ireland, with a resulting direct and indirect loss of jobs and employment.”