Plan to freeze water rates in Manx Utilities’ debt review | BBC News

Home and business owners in the Isle of Man could see water and sewerage rates frozen for 2018-2019 following a review of Manx Utilities £538m debt.

National Economic Research Associates (NERA) recommended the debt be restructured to “reduce the potential burden of charges on customers”.

It said the historic debt should be reduced in exchange for lower price increases over the next 5-10 years.

The Treasury, however, is proposing freezing charges for 12 months.

Manx Utilities Authority (MUA) was formed when the Manx Electricity Authority merged with the Water and Sewerage Authority in 2014.

It carries historical debt of £260m in bonds and £278m in Treasury loans.

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Plan to freeze water rates in Manx Utilities’ debt review – BBC News.