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Unwelcome hike in energy costs at time of uncertainty for small businesses, says FSB Northern Ireland

Responding to Power NI’s announcement that they are to increase energy costs by twice the rate of inflation from 1 October, FSB Northern Ireland Policy Chair, Wilfred Mitchell OBE said: “The announcement by Power NI that they will be increasing prices to this extent is disappointing and unwelcome, as it adds a further adverse burden to what are already some of the highest operating costs faced by SMEs, at a time of increasing uncertainty. 

“Rising costs are already having to be absorbed by business owners, making it increasingly difficult for them to invest, expand and create jobs; this price hike will undoubtedly have a negative impact on economic growth. 

“Measures such as progressing the North South Interconnector need to be developed and expedited to help increase efficiency and competition.”