A PYMNTS Company

UK: Ireland energy price hikes capped by CC

By  |  November 10, 2013

The UK’s Competition Commission ruled late last week has blocked Northern Ireland Electricity’s plans for incremental energy price hikes, say reports.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    NIE was slated to increase energy costs by up to $40 every year for the next five years. The Commission, however, has ruled that the NIE can only hike prices by about $8 every year.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The regulator made the ruling following a referral by the Energy Regulator, which has welcomed the Commission’s decision.

    The price caps come as the UK heavily debates rising energy costs; market inquiries looking to force energy giants to justify high costs are planned by UK energy regulator Ofgem, as well as the Office of Fair Trading and incoming regulator the Competition and Markets Authority.

    Full Content: UTV

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.