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Electricity cost reduction is 'sweetener' for industrial de-rating: Alliance

September 25, 2003 12:00 AM

Responding to the news that Economy Minister Ian Pearson is to reduce electricity costs for business, Alliance Finance Spokesperson Seamus Close stated:

"The announcement by the Minister of a reduction in commercial electricity prices is a dolly mixture to sweeten the blow of the abolition of industrial de-rating, which I am sure the Minister will impose in the not-to-distant future.

"The Minister knows that Northern Ireland industry has lacked competitiveness due to high electricity prices. However, a token reduction of electricity prices coupled with the abolition of industrial de-rating will ensure that local industry remains uncompetitive.

"No doubt the Minister, true to Labourspeak, will spin some other version."

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