Increased operating expenses costs MEA

Tue, 12 Oct 2010

The Manx Electricity Authority's retail operations lost the company over £400,000 last year.

The operating deficit for the year ending March 2010 was £414,000.

It follows a loss of £218,000 in the previous financial year.

Whilst sales turnover was up, operating costs also increased by over £300,000.

The annual report on the MEA will go before Tynwald later this month.