1 April 2003

Welcoming the appointment by the Minister of the members of the Northern Ireland Authority for Energy Regulation, the Chairman designate Douglas McIldoon said:

"I would like to welcome the new members of the Authority to their role as Gas and Electricity Regulators for Northern Ireland. While much has been done in recent years to modernise Northern Ireland's energy infrastructure a great deal more needs to be done before we can enjoy the environmentally clean competitively priced energy supplier that other countries enjoy. The appointment of such a group of distinguished people to the Regulatory Authority will greatly enhance the seriousness with which regulation has to be taken and consequently its ability to protect the interests of customers."

Mr McIldoon said:

"Having been energy regulator for seven years, I am acutely conscious of the scope for doing more and doing it faster. I hope the pace of change will now accelerate.

In Northern Ireland's gas and electricity markets customers have been protected from unjustified price increases and investors from arbitrary changes that would expropriate the value of their investments. The successful development of our energy market requires that these two sets of stakeholders have confidence in regulation to protect their interests and I have no hesitation in giving a personal pledge to protect customers from any cost increase that is not absolutely justified and investors from any unilateral changes that unwinds the value of whatever contracts and agreements they have with customers."

Notes

For further information, please contact Nick Carson on 028 9127 5965 or 07711 482807