Govt buying more time to work on financial solutions for MEA

Fri, 29 Jul 2011

It's hoped a financial support package put together for the MEA will buy some time while the long-term solutions are worked on.

It was announced yesterday that £14.5m of support will be given to the Manx Electricity Authority in the form of loan interest charge relief and capital advances.

If it gets Tynwald approval at budget time, it would protect households and businesses from 10% price hikes which are expected over the next two years.