The company came into existence in April 1992 following the privatisation of the Northern Ireland electricity industry, when the BG Group bought the station and Premier Power was formed.
Premier Power Limited owns and operates Ballylumford Power Station, which is situated on the north western tip of Islandmagee in Co. Antrim, separated from the west, from the sea port of Larne Lough. It is one of the largest power stations on the island of Ireland and provides over 50% of Northern Irelands total generating capacity, and 17% of the all-Ireland capacity.