Electricity prices possibly down

It is not known how much people might save

Northern Ireland's electricity market could be opened up to greater competition, resulting in consumers possibly paying less.

The news come after the company which owns Kilroot power station lost a legal challenge against moves to cancel its contract to supply power.

AES wanted its lucrative 1992 contract to stay in place until 2024.

Utilities regulator Iain Osborne said he did not yet know how much people could save.

"How much will depend on fuel prices at that time," he said.

"Kilroot is our only coal fired-station and if coal is cheap and gas is expensive then this could be a good contract for us. It hasn't been in the past but it could be in the future.

"We'll take that decision at the time. Today's ruling is about safeguarding - the proper authorities can do these things and Northern Ireland consumers aren't delivered into the hands of a private company with power over them."

Sinead Dynan of the Consumer Council said: "Although it's too early to know exactly how consumers will benefit, it does provide a glimmer of hope in these times of soaring energy bills."

A possible price rise of up to 33% had been on the cards for consumers in Northern Ireland until this news broke.

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