Consumers to benefit from competition in the electricity supply market as deregulation is introduced.
It has been predicted that domestic electricity bills in Ireland will fall by thousands of pounds after deregulation is introduced next year.
The first independent commercial power station is being built at Edenderry in County Offaly, Dr Valerie Kohler the chairperson of the Finnish energy company the IVO Group who are behind the project expects deregulation across Europe to bring down the price of electricity for consumers. The Finnish group are spending £100 million to build the country's first privately owned commercial power station. The construction stage of the project will provide 300 jobs.
Minister of Enterprise Mary O'Rourke said that deregulation of the electricity supply market should benefit the consumer.
The consumer is the beneficiary of any competition in any area.
The Edenderry plant will be fired by peat providing over 250 new support jobs at Bord na Mona. The IVO Group is also considering oil and gas-fired generation elsewhere in Ireland.
By the time the Edenderry plant is completed, the face of the electricity generating market in Ireland will have changed.
The introduction of deregulation has serious implications for the ESB and for consumers who are looking forward to cheaper electricity.
An RTÉ News report broadcast on 19 April 1999. The reporter is Ciaran Mullooly.
