MUA can't guarantee it won't need to borrow more money

Chair says markets are still 'volatile'

Manx Utilities says it cannot guarantee it won’t need to borrow more money to support energy customers.

Electricity prices on the Island are currently capped until the end of March next year.

Speaking to a Tynwald Economic Review Committee today the chairman described the markets as ‘volatile’.

Tim Johnston said despite the global price of gas coming down substantially it’s impossible to be certain of future movements: