The outgoing chairman of the Manx Electricity Authority says the body’s fortunes have turned around – even though it will take more than 20 years for it to pay off its debt.
Howard Quayle last week announced a three per cent rise in power costs following three years of price freezes imposed by government.
While there remains some unhappiness at the increase, which comes into effect next month, Mr Quayle says the forthcoming merger with the Water Authority will create an even stronger base to work from.
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