February 16, 2011
By Staff Reporter
The deal will bring a small discount in energy costs for Northern Irish customers but it has been hailed more as an example of cross-border cooperation.
Premier Power in Antrim called the deal a step toward an all-island energy market.
Electricity chiefs said the deal, signed in Dublin on Thursday, represented a “win, win” for everyone.
“It is a demonstration of the importance of integrated electricity markets,” said NIE director Harry McCracken. “The Moyle Interconnector with Scotland is already bringing competitive electricity prices to both parts of Ireland and we are now seeing how the freeing-up of energy markets is encouraging innovative transactions between the participants.”
GALEN TAKEOVER
Northern Irish pharmaceutical company Galen will leave the Irish Stock Exchange after a takeover by U.S.-based Barr Laboratories, it has been confirmed.
The company will be the latest in a string of departures from the ISEQ, including Smurfit, Eircom, Green Property and Riverdeep.
Barr will have to pay more than