Lembit OpikTo ask the Secretary of State for Northern Ireland what plans he has to introduce provisions to enable the buyout of long-term energy contracts through(a) a bond mechanism, (b) low-cost loans and (c) another mechanism; and if he will make a statement. [97894]
928W
§ Mr. PearsonI am fully committed to pursuing and evaluating options and mechanisms for reducing energy costs in Northern Ireland. This process is not solely or specifically focused on buying out long-term contracts and includes a thorough examination of views and proposals on more efficient means of financing energy assets and contracts, many of which are already financed by bond arrangements. I have allocated a high priority to this exercise and my officials are working closely with the Regulator in defining possible mechanisms.