Electric bills cut for businesses

Electricity will be cheaper for businesses

Electricity prices for Northern Ireland's businesses could be cut by 10 per cent under proposals put forward by the government.

Northern Ireland Office Enterprise Minister Ian Pearson said on Wednesday that the draft budget would contain plans for £30m to be set aside to help reduce the bills for businesses.

He said that the money would come from economic development budgets.

"What we are doing here is righting some of the wrongs of the botched Tory privatisation of the early 1990s which saddled industry in Northern Ireland with huge electricity bills," Mr Pearson said.

"That is a competitive disadvantage to businesses here in Northern Ireland.

"Overall, Northern Ireland is a competitive location but we need to make sure we stay competitive and we move forward."

The General Consumer Council welcomed the proposals.

However, the council called on the government to reduce the costs of electricity for domestic customers also, particularly those on low incomes.