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MEA prices versus British Isles comparatives 14 June 2007

Following the recent headline aired on Manx Radio regarding the MEA having the highest prices in the British Isles.

The information quoted has been sourced from the Oxera Report and the Authority would like to clarify to its consumers that the latest figures quoted in this report are for April 2006. While the MEA makes no claims to be the cheapest in the British Isles the latest comparative data for March 2007 shows that Republic of Ireland, Jersey and Npower average domestic bills were higher than the MEA’s. It should also be noted that using the Oxera data alone the conclusion that the MEA is the most expensive is not supported.

Eddie Teare, Chairman said,

“the MEA is not the most expensive generator and distributor of Electricity in the British Isles. However, the Board remains aware of its duty to its customers to keep tariffs as low as possible whilst maintaining commitments to safety and service levels”.

There is always a danger when doing simple, headline comparisons, as there is often timing disparity between price rises and falls between different companies and any comparison must consider fundamental differences (i.e. economies of scale, network architecture, location) between the comparators to ensure that you are properly measuring like with like.

The MEA is a member of the Eurelectric Small Islands Group and is in the process of benchmarking its costs and tariffs against companies in a directly comparable situation and plan to provide this information to the OFT to allow meaningful analysis.

For further information, please contact:

Alison Cottier
PA to CEO Manx Electricity
Tel: 687798

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