Manx Utilities reports a surplus for the year of £2.1m compared with a combined deficit for WSA and MEA in 2013/14 of £4.8m, and although part of this turnaround (£3m) is due to a foreign currency gain on a long term finance lease liability, these results show that the merged entity is progressing towards a sound financial footing.
Manx Utilities has published its annual statutory notice to customers providing information on electricity pricing and water and sewerage rates to come into effect from 1 April 2015.
On 2 July 2014 a substation in Castletown was identified as being deliberately vandalised by individuals who were lucky to escape with their lives.
During the last three years MEA, working with Government, has managed to keep a cap on tariff increases. With rising fuel costs over recent periods and as part of the IoM Government budget rebalancing programme, it is now necessary to increase electricity prices.
At the sitting of Tynwald today, the proposal to merge the Manx Electricity Authority (MEA) with the Water & Sewerage Authority (WSA) was approved. As a result both Authorities will cease to exist on 1 April 2014 and a new entity will be formed – “Manx Utilities Authority”.
Sign up for e-billing and Direct Debit today, this will give you an additional discount of £1.50 on your bill and will save you £6 per year.
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