Manx Utilities has announce it will freeze electricity prices for another year.
The statutory notice announces there will be no increase in electricity prices for 2017-18 and charges will be unchanged, as follows:
- Electricity charges for domestic users and commercial users will be frozen at 16.00 pence per unit.
- The standing charge will remain unchanged at 19.5 pence per day for both domestic and commercial customers.
- Electric Vehicle tariff will remain at 8.75 pence between midnight and 7am (GMT).
The Chairman of Manx Utilities, Dr Alex Allinson MHK said:
I am pleased to announce that electricity prices will be frozen for the coming financial year. Manx Utilities is committed to delivering high quality and dependable essential services for the Isle of Man. We are very aware of the impact our charges have on the people of this Island and the local economy and have made the decision to freeze electricity prices this year whilst only increasing the water rate by inflation.
We welcome the commitment in the Programme for Government for an independent review of Manx Utilities’ financial position to assess the ongoing stability of our long-term financial plan and look forward to working with Tynwald to ensure the future growth and prosperity of the Island.
In addition Manx Utilities announced that the emergency credit available for prepayment customers will increase from £3.00 to £6.00. Also a 6.4% increase in the water rate, based on Manx inflation (RPI), along with an increase in the sewerage rate at 98.00 pence in the pound. Water and sewerage rates to come into effect from 1 April 2017.