Daily Mirror (Northern Ireland)
Interconnector will give us all a big jolt Market to work more efficiently
THE Northern Ireland economy has been given a huge boost by news that a project to increase competition in the electricity market has been given the go-ahead, business organisations have said.
The North-south Interconnector – 85 miles of overhead cables stretching through Co Monaghan, Meath, Cavan, Armagh and Tyrone – will link up the power grid in Northern Ireland to that in the Republic.
Planning permission was approved by the Department of Infrastructure in the absence of an Executive.
By opening up the electricity market to a greater number of suppliers, prices charged to both consumer and business customers are expected to remain more competitive. Ellvena Graham, president of NI Chamber, said the decision to grant the permission was a wise one.
She added: “The timely delivery of the proposed interconnector will allow the all-island wholesale electricity market to work more efficiently, enabling wider competition between power generators and electricity suppliers throughout the island, and therefore ensuring that future electricity prices will be as competitive as possible.
“Businesses and employers need access to electricity in the most cost efficient manner possible, and the interconnector is key to achieving this.”
Those thoughts were echoed by Kirsty Mcmanus, national director of the Institute of Directors (IOD) Northern Ireland, who said electricity costs will be reduced by the move.
She added: “This decision finally puts to rest what had been the very real prospect of a ‘lights out’ scenario for Northern Ireland, and will be a major gamechanger for the local economy by vastly improving security of supply and the efficiency of our electricity network. “We agree with the Department of Infrastructure’s assertion that the project should progress without any further delay and urge all relevant stakeholders to work together to help make this happen.” The interconnector will be installed and run by both Eirgrid in the Republic and the System Operator f o r Northern Ireland.