Proposals from the Utility Regulator to curb Northern Ireland Electricity's (NIE) returns and investments over the next five years do not serve customers' best interests, the company said.

NIE, replying to draft proposals from the Utility Regulator on network charges, said curbing its modernisation programme would lead to an aged and unreliable network.

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"We are focused on delivering an electricity network in Northern Ireland that is fit for future needs and provides value for money for all our 830,000 customers," said Joe O'Mahony, NIE Managing Director.

"We believe strongly that the Utility Regulator's final proposals should fund NIE to invest more to modernise Northern Ireland’s ageing electricity infrastructure to ensure its future reliability.

"We hope that this submission will assist the Utility Regulator in arriving at a ‘Final Determination’ that will enable us to finance the provision of an adequate service to electricity customers in Northern Ireland."

(CD/GK)