NORTHERN Ireland Electricity (NIE) estimates it will have to pay around Pounds 44 million in windfall tax, following an announcement in the British budget during the week.

Dr Patrick Haren, chief executive, said; "We are disappointed with the size of the levy and with the fact that NIE bears the burden in Northern Ireland entirely alone, as the province's electricity generating companies have been excluded by the qualifying criteria."

Dr Haren also said the company was unable to plan with confidence for future development because the regulator has failed to confirm his acceptance of the recent MMC (Monopolies and Mergers Commissions) conclusions on NIE's price controls."

However, Dr Haren did welcome the large allocations in the budget to social and employment initiatives in the North.