Prices are to drop for Manx electricity consumers.

From 1 March 2007 the Fuel Cost Adjustment is to be reduced to zero.
That amounts to a reduction, says the MEA, in the unit cost from last September’s position of 9%.

Chairman Eddie Teare MHK says the MEA is the first energy provider in the British Isles to announce a fuel cost reduction this Winter.

"Through excellent fuel purchase management we are pleased to be able to reduce prices for Manx consumers and furthermore, the forecasts are looking as though the reduction will stay in place through until next year as the trend is anticipated to continue” he says.

The reduction will mean a saving of around ?33 a year to the 'average' household.