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MUA has not had to draw on £26million cost support loan

Money was allocated to help with electricity tariff freeze

Manx Utilities hasn't yet had to draw on a £26 million loan from government to support the price freeze on electricity bills, it's chair has told politicians.

But Tim Johnston is warning this doesn't mean the end for the current global energy crisis.

In September last year, government agreed to cap electricity prices until 31 March 2023 with that loan designed to help cover the costs of this measure.

Mr Johnston says whilst the MUA is currently forecast to be coming in below its £50.5million budgeted deficit, the wholesale gas market remains 'volatile':

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