Two year price freeze on electricity

Fri, 29 Jul 2011

From today, there'll be a two year price freeze on electricity.

This has been put in place after complaints from local businesses.

Some reported that the high energy prices on the Island were making it hard for them to compete with companies from other jurisdictions.

Although the measures are designed to support businesses, it's good news for households too.

The £14.5m financial support package has been agreed by the government and the Manx Electricity Authority.

Economic Development Minister Allan Bell explains where the money is coming from.[play audio file below]