David Honeyford MLA, spokesperson for Alliance Economy, expressed strong support for the funding, calling it a crucial step for Northern Ireland's economic and environmental future.
The Lagan Valley MLA said: "The announcement of a £2.23bn investment in Northern Ireland's electricity network is very welcome. I have spoken many times about the importance of redeveloping our energy networks to improve energy efficiency and promote green technologies.
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"The planning and building of new infrastructure must happen now to enable the connection of new renewable energy sources to the system. This initiative will not only enhance energy security for Northern Ireland in the future and provide us all with cheaper, cleaner electricity, but it will also help us transition away from fossil fuels, support decarbonisation efforts, and achieve our Net Zero targets.
"The Utility Regulator's final determination on price controls enables significant network investment for everyone’s benefit.
"It's my firm belief that when it comes to electricity supply we need to be in control of our own destiny. Going forward, that means making full use of our potential for secure, clean and green energy to ensure prosperity, economic development and a high standard of living for all our communities."
