New support package for MEA

Thu, 28 Jul 2011

The government's come up with a support package for the MEA to protect householders and businesses against proposed electricity price hike.

With rising global fuel prices, it's predicted bills will go up 10% over the next two years if the measures aren't put in place.

The package is worth £14.5m.

Around half of this comprises of relief from interest charges and the rest from capital advances.

The relief package is still subject to Tynwald apporval and will be included in next year's budget.