Isle of Man News - POSTED Fri 05-10-2018

Manx Utilities puts forward new pricing structure

by TH

Manx Utilities puts forward new pricing structure  - picture

Sewerage charges on the Isle of Man could increase if Tynwald gives the go ahead.

Manx Utilities is putting forward a new pricing strategy which would see the charge go up.

Water, sewage and electricity prices for domestic customers would go up by inflation only.

In October 2017 Tynwald agreed to reduce Manx Utilities’ debt by £95 million to £470 million and requested that the Statutory Board come back with a new pricing strategy.

It needs to balance the costs of providing services, protect customers and also provide firmer financial stability for the organisation going into the future.

Chairman Dr Alex Allinson said: “We clearly have a large debt legacy to manage and repay.

“Thanks to the support of Tynwald and Treasury this pricing strategy will avoid excessive price increases for our customers and provide stability and certainty for the next five years.

“Rebalancing of water and sewerage charges will reduce water rates and increase sewerage rates to better reflect the cost of delivering these services.

“Furthermore electricity prices will be stabilised and only increased by the annual rate of inflation (CPI).

“The strategy will see charges and costs established for a five year period and include obligations on Manx Utilities to continue to deliver efficiencies and cost-effective services.

“The strategy is consistent with Government’s social, economic and environmental policies and Manx Utilities is committed to working with Government to support low and middle-income households who will not be disadvantaged by these changes.”

“Rebalancing of water and sewerage charges will reduce water rates and increase sewerage rates to better reflect the cost of delivering these services."

Dr Alex Allinson, Chairman

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