Price cap brought in last year will end on 31 March
Manx Utilities is preparing to brief government in the face of looming price hikes.
That’s according to the chief minister who has warned that the electricity provider will have ‘no choice’ but to increase bills.
Alfred Cannan admits it’s just one of a series of financial pressures which are squeezing residents’ finances.
Last year the Manx Government capped electricity prices at 22 pence per unit to avoid the authority increasing tariffs by between 70 and 90 per cent.
The cap is due to end on 31 March.
Mr Cannan told Manx Radio there are difficult times ahead:
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