Mutual Energy is a company limited by guarantee (often called a mutual company) which has been formed to acquire and hold important energy infrastructure assets for the benefit of the energy consumers of Northern Ireland. The acquisition of Moyle Interconnector Limited, Premier Transmission Limited and Belfast Gas Transmission Limited was funded by long-term bond finance. Our principal stakeholders are gas and electricity consumers and our financiers.
The mutual business model was introduced to the energy industry in Northern Ireland in 2003 when Moyle Interconnector Limited was re-financed and acquired from previous owners Viridian Group plc by Moyle Holdings Limited.
Northern Ireland Energy Holdings was formed in January 2005 in preparation for the purchase of Premier Transmission in March 2005. Following consultation with our Members, the Northern Ireland Authority for Energy Regulation and the wider community Moyle Holdings Limited joined the Group in October 2005. Belfast Gas Transmission Limited was purchased and became part of the Group on 31 March 2008. The company was renamed Mutual Energy Limited on 9th November 2009.
What we do
Mutual Energy’s business is to provide a safe, reliable and efficient gas and electricity transmission service to our direct customers and to consumers throughout Ireland. Our aim is to maximise value to our stakeholders through the provision of this service.
The quality of the service we provide is determined by the performance of our assets in delivering high availability electricity and gas transmission to electricity traders and gas shippers.
We put a high value on the safety of our operations. We aim to provide our service while ensuring the safety of our employees, contractors or anyone in the vicinity of our assets.
Our assets provide an important conduit for energy supply to Northern Ireland. We aim to achieve availabilities on a par with the best in our industries.
As well as ensuring safety and reliability we maximise value to our stakeholders by operating efficiently and by reducing the cost of capital and operating costs.