Responding to concerns raised about the scale of the electricity price increase, including those expressed by a Stormont economy committee, Ms Foster said: "I recognise that the recent price increases were of a scale that has caused real anxiety amongst consumers.
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"In the interests of maintaining public confidence I wrote to the utility regulator suggesting that they bring forward proposals for an independent review of the electricity price setting process."
The Minister said the utility regulator has proposed terms of reference for the review, which Ms Foster believes are "sufficiently wide to address the major concerns that have been expressed".
She added: "I am also satisfied that appointing Douglas McIldoon to lead the review, should inspire public confidence in the rigour and independence of the exercise.
"I have urged the Utility Regulator to progress the review as a matter of urgency so that everyone can have confidence in the energy price setting process."
(PR)
