Energy Hikes Could Cost Jobs And Hinder Recovery
Manufacturing Northern Ireland has said that rising electricity prices have the potential to undo any advantage which the lowering of Corporation tax might bring to Northern Ireland. Speaking ahead of a seminar for large energy users, MNI Chief Executive Bryan Gray said that the NIAUR has warned commercial users that they will face increases this autumn of 30% on energy prices and 8% on other elements of power bills.
“MNI have warned that these increases have the potential to cost jobs and hinder recovery as companies struggle to get out of recession. MNI have provided evidence once again that large energy users in Northern Ireland are paying a premium of as much as 30% more than their counterparts in the Republic. If industry in Northern Ireland is to remain competitive in difficult world markets, this ludicrous and unacceptable situation needs to be tackled urgently.”
Manufacturing Northern Ireland has called on the Assembly to take this issue seriously and address energy costs as a matter of urgency.
“If the present campaign to ensure that Corporation Tax is lowered is to succeed, it is vital that we tackle the major issue of energy costs which are seriously hampering recovery and will lead to further job losses. If we don’t get this situation under control, companies which are planning to come here because of the lower Corporation Tax will be diverted from making that decision because of the high energy costs.”
They have also called on the Regulator to produce firm figures benchmarking Northern Ireland’s commercial energy costs with competitors in Great Britain, the Irish Republic and across Europe.
Manufacturing Northern Ireland have worked proactively with Carbon Trust to produce a number of energy guides for members in an effort to help them reduce costs and save energy. The organisation is now to run a seminar for large energy users with M&C Energy Group in the Seagoe Hotel, Portadown on 6th July – contact MNI @ firstname.lastname@example.org