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MEA Ahead of UK Utilities 18 February 2008

The MEA are pleased to announce to its customers that the Fuel Cost Adjustment will not be imposed this winter.

Despite the recent rise in fuel prices which have forced large increases in the UK, the MEA Board have succeeded in retaining the FCA at its current rate due, in no small part, to the success of the Authority’s energy hedging policy.

Chief Executive, Ashton Lewis said,

“the Authority is constantly striving to bring the lowest cost possible to our Island residents. We have a sound infrastructure on the Island with a diversity of power options available to us both locally and via the subsea electrical interconnector to ensure that we can bring least cost to consumers.”

He went on to say,

“It is always pleasing to report success but we are particularly proud of our hedging process which has taken us ahead of some of the UK’s largest utilities against whom we are regularly compared.”

For further information, please contact:
Alison Cottier PA to CEO
Tel: 687798

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