MU prices 'will still rise' despite write-off

Allinson to work on new pricing structure

The Chairman of the Manx Utilities Authority believes the proposal to write-off £95 million in debt to Treasury will be short-term good news for customers.

The proposal still has to gain Tynwald approval later this month.

If it does, it will mean a freeze in charges for water, sewerage, electricity standing charges and a 2% cap on electricity prices for the next year.

MUA Chairman Dr Alex Allinson says they will work on a new long-term pricing framework to improve fairness and transparency.

And he's hoping increases to consumers will be more gradual but warns the trend will still be upwards:-