Trevor Lunn MLA said: “The decision by Power NI to increase their electricity prices by 18% has shown why we must continue to examine possible renewable energy sources. They have claimed that the cause of this rise is due to the volatile international oil market that they cannot control.
“By investing in renewable energy sources such as solar, tidal and wind, we can stabilise our energy market and ensure that we are not vulnerable to severe price hikes.
“We import around 99% of our fuel requirements, a worrying statistic that shows why we are susceptible to these types of price increases. If the Executive gets serious about renewable energy, we can become less dependent on imported fuels and the vagaries of world oil markets.
“This price change will particularly affect those on low or fixed incomes like pensioners. It will also have a detrimental effect on businesses who have struggled to pay their bills in recent years.”