Omagh businesses seek clarity on energy bill price cap plan

BUSINESSES in West Tyrone are not impressed by the £2,500 price cap on energy prices announced by Prime Minister, Liz Truss.

They are even less impressed by the possibility that there may be a delay in the implementation of the cap here, due to the North’s ongoing political crisis.

Damien Corrigan, of Mullaghmore Bakery in Omagh, said their electricity bill had ‘increased by 300 per-cent’, and warned that, if something isn’t done, businesses will shut.

Damien said, “Many business owners will not be happy if the price cap is not introduced in Northern Ireland.

“Businesses are really suffering, and it is not fair that businesses in England, Scotland and Wales should get a edge over businesses here. Our bill has gone up 300 per-cent. No business can cope with these rises.

“The cap needs to be brought to Northern Ireland as quickly as possible, or there will be a lot of businesses shutting this winter.”

Omagh Chamber of Commerce chair, Colm Broderick, believes the new measures are a ‘good start’, but says that it is up to local politicians to get together and create a ‘proper relief package’ for businesses.

Mr Broderick, who owns a pub in Omagh, said, “The electric bill has hugely-increased. I am using a thousand units less than in 2019 a month, but I am paying three times as much.

“I definitely welcome any help for business, but I am unsure of how much this cap will do for small businesses.

“The only way businesses will get through this is by cutting opening hours, and reducing costs.

“The chamber has seen nine new members in the last week.

“I would urge people to join up so we can move on issues that affect all businesses as a collective.”

‘FRUSTRATION’

Finance Minister, Conor Murphy, has expressed frustration at the lack of detail in the Prime Minister’s statement on how the energy support will apply here, and said that the Prime Minister’s support package ‘does not go far enough’.

The Finance Minister said, “While the support announced is to be welcomed, it does not go far enough to support the most vulnerable in society, or small businesses. Nor, is it likely to meet increased energy costs faced by schools, hospitals, and other public sector bodies.

“Six months does not provide enough certainty for businesses who are facing spiraling and crippling energy costs.

“Businesses don’t have the luxury of waiting for the outcome of reviews to determine if their business is deemed to be a vulnerable sector entitled to further support.

“Benefits should be uplifted in line with inflation to support low-income households. With the increased costs that they will face this winter, there should be an uplift in Universal Credit, and the reduced VAT rate for the hospitality sector should be reinstated.

“These measures must be included in the upcoming Fiscal Statement later this month.”

Turning to the uncertainty on how the measures will apply here, Mr Murphy added, “While the British Government has said the energy policy changes will apply here, they have failed to outline what exactly that means.

“This will bring little comfort to individuals who are having to decide between heating and eating. Likewise, businesses trying to plan ahead for the winter months have no certainty as to when support will be forthcoming.

“The absence of a functioning Executive will require a work around.

“At a time of crisis for citizens, businesses and public services, this is completely unacceptable. I am calling for urgent clarity on how energy support will be delivered locally.”