IoM water rates could freeze next year

It's likely homes and businesses in the Isle of Man will see the rates they pay for water and sewerage frozen next year.

It follows a review of the £538m debt of the island's energy company Manx Utilities.

The review said the debt should be reduced in exchange for lower price increases over the next five to ten years.

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

Dr Alex Allinson is the chairman of Manx Utilities and spoke to Granada Reports about the proposed changes.