Power charge pegged to inflation

http://news.bbc.co.uk/go/rss/-/1/hi/northern_ireland/5320056.stm

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Charges which make up about 25% of domestic electricity bills in Northern Ireland have been restricted for five years, the power regulator has said.

Ofreg said the amount NIE can charge to transmit and distribute electricity cannot rise by more than the rate of inflation between 2007 and 2012.

The price control deal will allow NIE to invest about £300m in its network.

Ofreg chief executive Ian Osborne said it was a balance of short term cost reductions and long term investment.

Ofreg, the Office for the Regulation of Electricity and Gas, is an independent public body which protects the interests of electricity consumers by promoting effective competition in generation, transmission and supply.