ISME welcomes reduction in electricity costs for SMEs

ISME, the Independent Business Organisation, has welcomed the announcement by the Commission for Energy Regulation anticipating reductions in electricity prices of 5.9% for small businesses and 10% for medium businesses as and from the 1st November 2007.

Commenting on the decision, ISME Chief Executive, Mark Fielding, outlined that while the Commission is yet to finalise its decision the indications are that we are not going to have a winter of discontent on the electricity front this year as was the case for many years previously, which resulted in electricity price increases in excess of 80% since 2001.

“While today's announcement offers a welcome respite to hard pressed businesses, coming fast on the heels of the recent reduction in gas prices, the reality is that we still have a long way to go in order to bring Irish energy costs down to the EU average”, said Fielding.

The Association outlined that with the price reductions coinciding with the Single Electricity Market (SEM) opening on the 1st November, every effort should be made to secure future reductions over the next number of months and years.