Media Section
Gas Security for Northern Ireland Moves a Step CloserPress Release: 26th September 2007
Northern Ireland Energy Holdings Reports 'Excellent' Year
Northern Ireland Energy Holdings, operators of the Moyle Electricity interconnector and the Scotland-Northern Ireland gas transmission pipeline (SNIP) today reported on another excellent year. The company which is a mutualised business (where operating surpluses are returned to energy consumers rather than to private shareholders) was reporting on its second full year of operation. The 2007 Annual Report and Accounts will be presented today to Members at the Company Annual General Meeting in Belfast.
Highlights of the year included:
• Excellent safety – an incident free year.
• Group operating profit up 8%
• Availability 100% for SNIP, 99.4% for the Moyle Interconnector
Chairman of Northern Ireland Energy Holdings Alastair Locke said….”We have had an excellent year. We have operated both strategic assets at substantially lower cost to energy consumers than if they had remained in private shareholder ownership. At the same time we have maintained very high levels of operational performance.
We continue to measure our success by the returns we make for the energy consumers of Northern Ireland. The group’s operating companies were again able to make further contributions to lower energy prices in Northern Ireland in addition to the long term cost reductions which they deliver year-on-year.”
Mr Locke added “In terms of assets we are probably now Northern Ireland’s second largest energy business and we are very confident of achieving significant further growth – which should be more good news for energy consumers here”
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Northern Ireland Energy Holdings Media Contact:
Owen McQuade, Lagan Consulting Tel: +44 (0)28 9261 9550
email: owen.mcquade@laganconsulting.com
Last Updated: 23rd June 2006