Premier Power
Encyclopedia
Premier Power Limited is an electricity supply company in Northern Ireland
Northern Ireland
Northern Ireland is one of the four countries of the United Kingdom. Situated in the north-east of the island of Ireland, it shares a border with the Republic of Ireland to the south and west...
.
The company was formed in 1992 following the privatization
Privatization
Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector to the private sector or to private non-profit organizations...
of electricity supply in Northern Ireland. Previously Northern Ireland Electricity
Northern Ireland Electricity
Northern Ireland Electricity Limited is the electricity asset owner of the transmission and distribution infrastructure in Northern Ireland. NIE does not own generate or supply electricity. NIE is a subsidiary of ESB Group....
was responsible for the running of the country's power stations and transmission. British Gas (now BG Group
BG Group
BG Group plc is a global oil and gas company headquartered in Reading, United Kingdom. It has operations in 25 countries across Africa, Asia, Australasia, Europe, North America and South America and produces around 680,000 barrels of oil equivalent per day. It has a major Liquefied Natural Gas ...
) bought Ballylumford power station
Ballylumford power station
Ballylumford power station is a natural gas-fired power station in County Antrim, Northern Ireland. With its main plant generating 600 megawatts of electricity, it is Northern Ireland's largest power station and provides half of the country's power. Overall the station produces 1316MW...
from NIE and formed Premier Power to run it.
On 12 August 2010 the AES Corporation
AES Corporation
AES Corporation is a Fortune 500 company that generates and distributes electrical power. The company was founded on January 28, 1981, as Applied Energy Services by Roger Sant from the US Federal Energy Administration and Dennis Bakke from the Office of Management and Budget. AES Corporation is...
announced that its subsidiary, AES Ballylumford Holdings Limited, had acquired Premier Power through an all cash transaction for £102 million (approximately $160 million), which included purchase price and working capital adjustment. The transaction was announced on 2 July 2010, and was subject to licence consents from the Northern Ireland Authority for Utility Regulation and the Northern Ireland Department of Enterprise, Trade and Investment.
Through the Ballylumford facility, Premier Power generates 50% of Northern Ireland's electricity and 17% of all Ireland's
Ireland
Ireland is an island to the northwest of continental Europe. It is the third-largest island in Europe and the twentieth-largest island on Earth...
.
See also
- List of Irish companies
- Energy policy of the United KingdomEnergy policy of the United KingdomThe current energy policy of the United Kingdom is set out in the Energy White Paper of May 2007 and Low Carbon Transition Plan of July 2009, building on previous work including the 2003 Energy White Paper and the Energy Review Report in 2006...
- Energy use and conservation in the United KingdomEnergy use and conservation in the United KingdomEnergy use in the United Kingdom stood at 3,894.6 kilogrammes of oil equivalent per capita in 2005 compared to a world average of 1,778.0. In 2008, total energy consumed was 9.85 exajoules - around 2% of the estimated 474 EJ worldwide total...
- Green electricity in the United KingdomGreen electricity in the United KingdomThere are a number of suppliers offering 'green' electricity in the United Kingdom, either supplying electricity from existing environmentally friendly energy sources, promising to invest a proportion of profits into new renewable energy generating capacity, carrying out carbon offsetting, or some...