MUA annual report shows £26M surplus

The Manx Utilities Authority says it made an operating surplus of more than £26 million last year.

Its annual report for 2020/21 is on the agenda during this month's Tynwald sitting.

In the document, the MUA says it sold £2.5 million less electricity over the 12 months because of the coronavirus lockdown periods.

But selling £3.8 million worth of power to the UK meant it could cut electricity prices by more than a penny per unit on the Island.